TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Clients Subject to Mandatory iXBRL Filings?

Filing of financial statements in iXBRL format via Revenue Online Service (ROS) will be mandatory for all corporate taxpayers dealt with by Revenue's Large Case Division (LCD) from 1 October this year. At the end of last month, Revenue issued an email to all agents to notify of this forthcoming mandatory requirement. An email notification is also due to issue directly to LCD taxpayers this month advising them of their mandatory obligation to submit iXBRL tagged accounts. If readers are unsure as to whether their clients are “LCD taxpayers”, and consequently subject to mandatory iXBRL filings from this October, they should contact Revenue's LCD e-Filing Support Unit.

The following is an extract from the Revenue email which issued to the agent contact on their system:

“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.”

Readers are reminded that Special Purpose Vehicles (SPVs) that are dealt with by Revenue's LCD will not be subject to mandatory iXBRL filings until 1 May 2014. From 1 October 2013 iXBRL filing is mandatory for LCD corporate taxpayers filing corporation tax returns (i) on or after 1 Oct 2013, (ii) with respect to Accounting Periods ending on or after 31 Dec 2012.

Chartered Accountants Ireland's reports on developments related to the iXBRL project, links to feature articles on the topic in Accountancy Ireland and tax.point, other relevant material from Chartered Accountants Ireland as well as links to Revenue's iXBRL webpage, are collated and published for your ease of reference on the Chartered Accountants Ireland's dedicated iXBRL webpage available from www.charteredaccountants.ie/ixbrl.