XBRL Blog

 

Handling CbCR, and the penalties and impact of non-compliance

12 Jun, 2018  Posted By Gautham   Posted in CbCR
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Thе BEPS Action 13 report (Trаnѕfеr Pricing Dосumеntаtіоn аnd Country-by-Country Reporting) provides tеmрlаtеs for multіnаtіоnаl enterprises (MNEѕ) to compile rероrts yearly аnd for еасh tаx jurіѕdісtіоn in whісh thеу dо business. Such a report іѕ саllеd the Cоuntrу-bу-Cоuntrу (CbC) Rероrt. … Continue reading

 

The Irish tax system analysed by Social Justice Ireland

12 Jun, 2018  Posted By Lakshmi   Posted in Revenue
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Ireland needs more tax revenue Social Justice Ireland (SJI) has suggested that Ireland needs additional tax revenue. They proposed that the Irish government should aim to add about £3 billion to tax revenue each year. Their reason is to ensure … Continue reading

 

Brexit delays MTD mandate and implementation

30 May, 2018  Posted By Senthil Kumar   Posted in MTD
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Brexit delays MTD mandate and implementation A deadline of 2020 is set for all tax returns to be digitised. However, the Brexit split will delay the MTD (making tax digital) mandate and its implementation which might extend the timeline for … Continue reading

 

Ireland Revenue accepts new iXBRL taxonomies – Irish GAAP (FRS102), FRS101 and EU IFRS

27 Jun, 2017  Posted By Balaji M   Posted in FRS102, iXBRL, Revenue, XBRL
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Revenue Ireland introduced additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) on 16th December 2016, as a Public Working Drafts (PWD). Interested parties were invited to review the PWDs for the three additional taxonomies and provide … Continue reading

 

ESMA Initiates Inline XBRL Testing

26 Jun, 2017  Posted By Balaji M   Posted in ESMA, iXBRL, Revenue, XBRL
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Issuers listed on stock markets in the EU are governed by the European Transparency Directive. This directive requires such listed companies to prepare and submit financial reports in a European Single Electronic Format (ESEF). European Securities and Markets Authority (ESMA) … Continue reading

 

Digital Revolution in Compliance Reporting

16 Feb, 2017  Posted By Balaji M   Posted in Compliance Reporting
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Computers revolutionised the world of information decades ago. ‘Interactivity’, however has been a more recent phenomenon. Hitherto, data collection by Regulators has always been in ‘non-interactive’ formats like PDF, Word, etc. This scenario is changing as we go to press. … Continue reading

 

Revenue Ireland introduces additional taxonomies in iXBRL

13 Feb, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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The Phase 1 and Phase 2 Corporation Tax filers were filing financial statements in iXBRL format in reference to the GAAP and IFRS taxonomies accepted by Revenue until last year. Revenue introduced additional taxonomies (FRS 101, FRS 102 and EU … Continue reading

 

Your smarter choice for iXBRL preparation

25 Jan, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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All corporate tax payers in the Ireland need to file their CT1 form with Revenue including the Accounts, in iXBRL format. There are several ways corporations can fulfil this requirement including, in-house, getting it done through the Accountants/Tax Advisors, or … Continue reading

 

Revenue Ireland extends iXBRL filing deadline by 3 months

15 Sep, 2016  Posted By Balaji M   Posted in iXBRL, Revenue
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Revenue has notified that it has extended iXBRL filing deadline by 3 months from Form CT1 due date. This notification has the following effect (example for accounting period end 31 December, 2015): Accounting period end 31 December 2015 Form CT1 … Continue reading

 

Will Revenue of Ireland extend your iXBRL filing deadline?

20 Jul, 2016  Posted By Pramodh Vittal   Posted in Revenue
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Companies registered for Corporation Tax must file the CT1 Corporation Tax return form on an annual basis.  Companies are also required to file their financial statements in iXBRL format through Revenue’s Online Services (ROS). The CT1 form and any balance … Continue reading

 

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