Submission of financial statements in iXBRL (inline eXtensible Business Reporting Language)

23rd November 2012 will see the release of an enhanced version of Revenue's On Line System (ROS) that will allow taxpayers and practitioners to submit financial statements to Revenue in iXBRL format. From that date all Corporation Tax payers will have the option of uploading their financial statements. Initially, the filing of financial statements in iXBRL will be optional commencing with taxpayers dealt with in the Large Cases Division from October 2013.

From 1 January 2013, Income Tax payers will also have the option of uploading their financial statements using iXBRL.

Receiving Financial Statements in iXBRL will allow Revenue to examine, in a very efficient way, the content of accounts and their relationship with the information presented on tax returns. This has the potential to shorten processing and turnaround times for matters such as repayment claims and also to enhance Revenue’s capacity to accurately assess and eliminate risks, potentially reducing the need for intrusive Revenue audits or other interventions for the great majority of compliant taxpayers.

Business Reporting Ireland Ltd/Revenue Roadshow (31 August 2012 - 12 September 2012)

The purpose of the roadshow is to advise tax filers, be they practitioners or corporates, of what is involved in filing in iXBRL with Revenue.

The events are relevant to all tax filers, tax advisors, accountants and company secretaries. Attendance is free of charge but must be pre-booked. The roadshow runs nationwide from 31 August 2012 to 12 September 2012.

Final date for booking for all venues is Monday, 27th August 2012.

[Ends 17 August 2012]