I agree that one ought to be careful, but the discussion ignores XBRL
GL.
XBRL GL (and Eric Cohen is the expert here) enables the tax world to
get the information it needs at a far more granular level than XBRL
financial reporting. If we ignore XBRL GL, we are ignoring some of the
best standardized ways of obtaining the tax information that is required.
IMHO, if my limited knowledge of XBRL GL is correct, XBRL GL can
provide the reports of the transactions as is needed.
Disclosure: As Chair of XBRL Canada, I may be biased in that
direction.
George Farkas
President, XBI Software Inc
Chair, XBRL Canada
At 02:01 AM 3/12/2004, Lutes Terence H wrote:
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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