iXBRL: Introduction of new Detailed Profit and Loss taxonomy

Taxpayers required to file iXBRL financial statements do not complete the CT1 “Extracts from Accounts” section, instead filing a Detailed Profit and Loss (DPL) alongside their statutory financial statements. Revenue is now releasing a DPL taxonomy for use with the Irish-extension taxonomies for FRS 101, FRS 102, and EU IFRS published by XBRL Ireland.

From the date of this e-Brief, three additional taxonomies (FRS 101 + DPL, FRS 102 + DPL and EU IFRS + DPL) will be accepted by Revenue. The DPL taxonomy is published as a Public Working Draft to allow for a period of consultation (see note below on consultation period and feedback) and is available for download on the Revenue website.

New DPL features

Please note that the DPL also contains mandatory fields, just as the CT1 “Extracts from Accounts” does. The DPL mandatory fields are:

• DPL Turnover / revenue
• DPL Gross profit (loss)
• DPL Profit (loss) before tax
• DPL Income Tax expense (credit).

If a company has no values for any of these items, then a zero value must be reported.

Consultation period and feedback

It should be noted that interested parties are invited to review the Public Working Draft of the DPL taxonomy and provide feedback by 30 November 2017. Interested parties should submit their feedback to DPLTeam@revenue.ie

Please note that the Irish extension taxonomies for FRS 101, FRS 102 and EU IFRS are the work of XBRL Ireland and, as they are now final, feedback is not sought on these taxonomies.

Further information

The iXBRL Frequently Asked Questions document on the Revenue website has been updated to reflect the acceptance of the additional taxonomies and provides information on the DPL.

A Change Document is available detailing the changes made to the FAQ.

Tax and Duty Manual Part 41A-03-01 has been updated to reflect the additional taxonomies accepted by Revenue.

Queries regarding this e-Brief (with the exception of feedback on the DPL taxonomy) can be referred to Revenue’s dedicated helpdesk for iXBRL matters at iXBRL@revenue.ie or to the relevant local Revenue office.

31 October 2017