Mandatory Filing of iXBRL Financial Statements
Since November 2012, Revenue corporation tax filers have optionally been able to file financial statements in iXBRL format via ROS (Revenue On-line Service). iXBRL (inline eXtensible Business Reporting Language) is a language which allows financial information to be communicated and presented in a format that may be recognised and read by both people and computers.
As an agent contact for Revenue's Large Cases Division (LCD) Corporation Tax cases, I am writing to you to advise of the forthcoming mandation date for iXBRL filing. From 1st October 2013, it will be mandatory for all corporation tax customers of Revenue's Large Cases Division (LCD) to file iXBRL financial statements when making their tax returns in respect of accounting periods ending on or after 31 December 2012. In the case of Securitisation Special Purposes Vehicles (SPVs), to which Section 110 Taxes Consolidation Act 1997 refers, the mandation date has been extended to 1st May 2014.
If you, or your companies or firms ROS Administrators are uncertain which of your clients are under the remit of LCD, please contact LCD E-Filing Support Unit at (01) 8972801 quoting your TAIN (Tax Advisor Identification Number) number.
Finally I wish to inform you that, in the next few weeks, as part of our continuing communication programme, we shall also be writing directly to LCD corporation tax customers to inform them of the iXBRL mandation dates.
For further information on Revenue’s iXBRL filing requirement please visit our iXBRL webpage at www.revenue.ie/en/online/ros/ixbrl/ or contact the Revenue iXBRL Business Team at iXBRL@Revenue.ie .