XBRL (eXtensible Business Reporting Language) is a language that allows the presentation of financial information in a computer readable format. XBRL is increasingly being adopted by both businesses and regulators world-wide. iXBRL, or ‘inline’ XBRL, is a more recent version of the language which allows human-friendly presentation of XBRL documents. Certain companies are obliged to submit their financial statements to Revenue in iXBRL format.
Who does iXBRL apply to?
Filing of financial statements in iXBRL format is mandatory for all corporation tax payers who do not meet all of the below requirements in the financial year:
|Balance Sheet Total||≤ €4.4m;|
|Annual Turnover||≤ €8.8m|
|Average Number of Employees||≤ 50|
Crowe Horwath offers a timely, cost efficient iXBRL service. Our hands on, systematic approach assures an effortless conversion process.