Title: RE: [tax] Comments on XML Position Paper
I very much agree with Phil and Andy's point.
-----Original Message-----
From: Philip Allen [mailto:]
Sent: Thursday, March 11, 2004 4:15 AM
To:
Subject: Re: [tax] Comments on XML Position Paper
On Tuesday 09 March 2004 11:47, Andy Greener wrote:
> I'm also a little nervous about recommending XBRL wholesale as the
> standard for tax reporting. It is certainly appropriate in the
> corporate financial reporting world, and by extension therefore the
> corporate tax reporting world, but I can think of a number of tax
> reporting scenarios here in the UK for instance for which it would be
> less than ideal (personal tax compliance information, payroll
> deduction and compliance information for income tax and National
> Insurance, duty on property and financial transactions, etc).
I would like to support Andy's point here. XBRL is very well suited for corporate financial data and related tax and regulatory reporting - but much other tax data is transactional in nature and so there is a strong case for couching it in conventional XML. The widespread acceptance of XBRL is a huge step forward for the financial services industry but we must be careful not to oversell it.
Regards
--
Philip Allen, Chairman DecisionSoft Limited
+44-1865-203192 http://www.decisionsoft.com
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