XBRL Blog

 

How Does iXBRL Affect My Business’ Accounts Preparation and Reporting Process?

07 Dec, 2018  Posted By Thenvi Subin   Posted in iXBRL
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From 1 January 2010, legislation has been in place in the U.K. that requires companies to file their accounts and computations with HMRC in Inline XBRL (iXBRL) format in respect of returns submitted on or after 1 April 2011. There … Continue reading

 

HMRC and iXBRL Tagging – What You Should Know

07 Dec, 2018  Posted By Thenvi Subin   Posted in HMRC, iXBRL Tagging
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Many companies in the U.K. have their year-ends on either the 31 December or 31 March. This means that many businesses, especially those with December year-ends, will need to comply with HMRC filing deadlines within a matter of weeks. With … Continue reading

 

Malaysian Business Reporting System (MBRS) – What you need to know

20 Nov, 2018  Posted By Thenvi Subin   Posted in MBRS
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In Malaysia, all companies (both public and private) need to register themselves with the Malaysian Regulator, Suruhanjaya Syarikat Malaysia (SSM), and these companies have to submit their financial information to SSM once every year. The regulator’s role is to enhance … Continue reading

 

Making Tax Digital : What’s coming our way!

15 Nov, 2018  Posted By Thenvi Subin   Posted in MTD
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One of the most intellectual persons the world has ever had, Albert Einstein said, “The hardest thing in the world to understand is the income tax.” Tax payments have almost been like rocket science to most taxpayers. Even Former U.S. … Continue reading

 

The Developers’ Disclosure Guide to Ind AS 115

15 Nov, 2018  Posted By Thenvi Subin   Posted in MCA
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Ministry of Corporate Affairs (MCA) brought Ind AS 115 as part of the Companies Amendments Rules 2018. Ind AS 115 replaces Ind AS 11and 18 which are related to revenue and construction contracts. MCA has introduced Ind AS 115 with … Continue reading

 

House of Representatives Passes the GREAT Act

29 Oct, 2018  Posted By Guru Raj Singh   Posted in Great Act
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In the final week of September 2018, the House of Representatives passed the Grant Reporting Efficiency and Agreements Transparency (GREAT) Act of 2018 through a voice vote. Although there is still work to be done before the GREAT Act of … Continue reading

 

The Importance of Finding the Right Managed Tagging Service Provider

25 Oct, 2018  Posted By Shabeer   Posted in iXBRL
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Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large … Continue reading

 

Proposed Update to the IFRS Taxonomy 2018 Released by the IFRS Foundation

25 Oct, 2018  Posted By Guru Raj Singh   Posted in SEC
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On September 20 2018, the IFRS Foundation published Proposed IFRS Taxonomy 2018 Update PTU/2018/1 relating to Common Practice (IFRS 13 Fair Value Measurement), which is now open to the public for consultation. According to the IFRS Foundation, the proposed amendment includes … Continue reading

 

HMRC opens pilot for MTD VAT filers

19 Oct, 2018  Posted By Shabeer   Posted in MTD
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The tax authority HM Revenue & Customs (HMRC) has invited more than half a million businesses to test Making Tax Digital (MTD) for VAT moving forward to the digitisation of tax which will be effective from April 2019. HMRC has … Continue reading

 

It’s time to get ready for Making Tax Digital

12 Oct, 2018  Posted By Shabeer   Posted in MTD
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Originally announced back in 2015, Making Tax Digital aims to digitise the UK’s taxation system through the use of digital records and online filing through compatible software. With just months to go before the launch of Making Tax Digital for … Continue reading

 

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