Irish Revenue iXBRL Mandate

The Irish Revenue began requiring companies to file financial statements in iXBRL in 2013, starting with the Large Corporates Division companies before moving on to smaller entities.

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Revenue iXBRL Mandate - A Closer Look

Ireland’s Revenue began implementing iXBRL in 2013, with Large Corporates Division companies required to submit financial statements in iXBRL for accounting periods ending on, or after, 31 December 2012. Special Purpose Vehicles began to comply with the iXBRL mandate in 2014, for accounting periods ending on, or after, 31 July 2013.

All other Corporation Tax filers began submitting iXBRL financial statements for accounting periods ending on, or after, 31 December 2013. Companies and sole traders with no obligation to submit iXBRL financial statements may do so voluntarily.

Companies with total assets, including liabilities, less than €4.4 million; turnover of less than €8.8 million; and an average number of employees of 50 or fewer do not have an obligation to file iXBRL financial statements.

iXBRL improves the quality of companies’ financial statements by rendering them in a modernized, digital format that is both easier to prepare and use.
Modernized Reporting
Since iXBRL is a machine-readable format, the data can be understood by computers and dealt with intelligently. XBRL data can be stored, transmitted, and presented efficiently.
Easier Analysis
The iXBRL format makes the production and processing of data faster while reducing errors with the help of validation checks. The result is a highly efficient data value chain.
High Quality Data
The large volume of data being filed with Revenue can be pooled for analytics that allows key stakeholders to study industry-wide financial reporting trends for decision-making.
Towards Analytics
Why Choose IRIS CARBON

IRIS CARBON has been leading efforts to develop the XBRL standard. Our work in XBRL reporting spans 17+ years and we have collaborated with over 30 global regulators, helping some of them develop XBRL taxonomies. We like to call ourselves XBRL evangelists.

Apart from filings with Revenue and the HMRC, we facilitate UKSEF/ESEF reporting in the UK and EU. In the US, we facilitate iXBRL filings with the SEC and XBRL filings with the energy regulator FERC. We also handle CIPC iXBRL filings for South African companies.

  • Outsourcing & In-house Compliance
  • Unlimited XBRL Expert Support
  • Scalable Solution for Newer Filing Needs
  • Relentless Innovation for High-quality Filings
Key Features of IRIS CARBON

Contact IRIS CARBON® today and experience the difference!

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