Some useful iXBRL terms

 Term Definition

iXBRL

 

inline eXtensible Business Reporting Language. Allows financial information to be presented in a format that is both human readable and machine-readable.

Taxonomies

A dictionary, linking each tag with the concept it identifies. Taxonomies accepted by Revenue are; UK GAAP with Irish extension, IFRS, FRS102

DPL

Detailed Trading and Profit and Loss Account

LCD

Revenue’s Large Cases Division, taxpayers handled by Revenue’s LCD are subject to Phase 1 of mandatory iXBRL filing.

ROS

Revenue Online Service

Form CT1

corporation tax return

Balance sheet total

Aggregate of assets without a deduction for liabilities. One of three criteria to be satisfied for exclusion from phase 2

TALC

Tax Administration Liaison Committee

Section 110 company or Special Purpose Vehicle (SPV)

Section 110 of the Taxes Consolidation Act 1997 deals with the taxation of securitisation and other structured finance transactions.

FAQ

Frequently Asked Question – Revenue has published several FAQs on iXBRL which are available on their website www.revenue.ie.

TCA

Taxes Consolidation Act 1997. Section 884 provides that a tax return includes financial statements required to be prepared under the Companies Act. This, coupled with the existing e-filing legislation, establishes a statutory basis for the mandatory submission of iXBRL financial statements as part of the tax return.