Introduction

The Revenue Commissioners (Revenue), is the Irish Government agency responsible for customs, excise, taxation and related matters. Its core activity is the assessment and collection of taxes and duties. Since 2013, Revenue has implemented a phased introduction of the requirement to file electronic Financial Statements as part of the Form CT1. All companies that are required to prepare accounts under the Companies Act 2014 must submit their Financial Statements in iXBRL format to Revenue. However, Revenue has progressively mandated the submission of Financial Statements in iXBRL format on a phased basis for Corporation Tax filers. There will be a gradual transition until eventually all Corporation Tax payers will submit their Financial Statements in iXBRL format.

For better understanding, please refer the below mentioned various aspects related to iXBRL Filing:

Why XBRL is required?

XBRL offers many benefits viz. Improved reporting, Automated data collection, Reliability & accuracy, Cost effective, Time saving, Better decision making…

Who need to file in iXBRL?

All companies required to prepare accounts under the Companies Act 2014 must submit their Financial Statements in iXBRL to Revenue...

What is required to be filed?

Full set of financial statements / Annual Report is required to be filed in iXBRL format through Revenue On-line Service…

When you need to file?

All the Companies required to file their financial statements must file the financials after the end of its financial year…

How to prepare and/or file?

Preparing financial statements in XBRL mode: The process for creation and filing of Financial Statements in iXBRL mode is as under…

What if there is delay or non-filing?

In case the Company makes delay in filing or fails to file the financial statements, late fees and penalty is applicable…

How we can serve?

XBRL Experts offers full service for all of your iXBRL filing needs. We provide compliance with the most current filing requirements…

What is our process?

It is a simple 4 step process to convert your financial statements to iXBRL format for filing with Revenue Ireland…

Why XBRL Experts?

Experienced Team

We hire only seasoned, professionals with relevant experience. Our team members are periodically trained on various aspects related to XBRL, Accounting and Secretarial matters. Each reviewer of XBRL report is having professional degree and experienced in preparing minimum 200 XBRL reports.

Accuracy of Reports

Our service process has in-built preparer-checker mechanism and random audits to ensure that the final XBRL reports are accurate and meets the requirements of the Statute and customer’s expectations. Our processes are certified for ISO Quality Standards.

Customer Satisfaction

Our vision is to ensure our customers are satisfied with our services and will not be reluctant to use our services again or refer us to their network. Further to be noted that client needs to pay us only after completion of service.

Data Security

We strictly adhere to regulations related to secure handling of client data. All data are hosted in a secure server. We audit our process periodically for data security and are certified with ISO.

Quick Turnaround

Sometimes customers need the XBRL report within a very short time or sometimes it could be few weeks. Our service delivery model is flexible enough to meet these requirements in a Cost effective manner.

Cost Effective

Our main focus is to provide Cost Effective services without downgrading tagging quality. Further there are no hidden charges – charges are not dependent on file size.

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