Who need to file in XBRL?

Applicability of Filing Financial Statements in iXBRL mode with Revenue

Since 2013, Revenue has implemented a phased introduction of the requirement to file electronic Financial Statements as part of the Form CT1. There will be a gradual transition until eventually all Corporation Tax payers will submit their Financial Statements in iXBRL format.

The table below sets out who is required to file iXBRL Financial Statements and when:

Commencement Date

iXBRL Filing

23 November 2012

Voluntary for all Corporation Tax payers

1 January 2013

Voluntary for all Income Tax payers

1 October 2013

Phase I

Mandatory for customers of Revenue’s Large Cases Division filing Corporation Tax returns (except Section 110 Securitisation Special Purpose Vehicles)

(i)  on or after 1 October 2013

(ii)  with respect to accounting periods ending on or after 31 December 2012

1 May 2014

Mandatory for customers of Revenue’s Large Cases Division Section 110 Securitisation Special Purpose Vehicles filing Corporation Tax returns

(i)  on or after 1 May 2014

(ii)  with respect to accounting periods ending on or after 31 July 2013

1 October 2014

Phase II

Except those meeting iXBRL deferral criteria*, mandatory for all Revenue customers filing Corporation Tax returns

(i)  on or after 1 October 2014

(ii)  with respect to accounting periods ending on or after 31 December 2013

Later phases to be confirmed

Mandatory for all Corporation Tax payers not covered by Phases I & II.

The mandate may be extended in the future to some Income Tax filers.

*iXBRL deferral criteria

To be excluded from the Phase II filing obligation, a company must meet all three of the following criteria:

  1. The Statement of Financial Position/Balance Sheet total 3 of the company does not exceed €4.4 million; and
  2. The amount of the turnover of the company does not exceed €8.8 million; and
  3. The average number of persons employed by the company, calculated in accordance with s.317 of the Companies Act 2014, does not exceed 50.

Companies and sole traders who have no obligation to submit iXBRL financial statements may do so voluntarily.

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