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18 th International XBRL Conference

XBRL at the Federal Public Services Finance, Belgium Caroline Dupae, Project lead Kurt Cogghe, Deloitte Consulting. 18 th International XBRL Conference. Agenda. Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer'). XBRL in Belgium: context.

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18 th International XBRL Conference

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  1. XBRL at the Federal Public Services Finance, BelgiumCaroline Dupae, Project leadKurt Cogghe, Deloitte Consulting 18th International XBRL Conference

  2. Agenda Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  3. XBRL in Belgium: context Tax building blockin development Specific entry points National Bank of Belgium Taxonomies National Institute forStatistics Taxonomies Federal Public Service Finance Taxonomies Common building blocks Core, Data Type, GCD and Value Lists Taxonomies Core, Dimensions Taxonomies Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  4. XBRL in Belgium: building blocks • The current project at FPS Finance is adding the building block ‘corporate tax return’. • Characteristics of these blocks are: • Collaboration with other regulators • Starting from an operational application • Sharing and extending common modules

  5. Agenda Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  6. Project approach

  7. Timing and long term planning Optimalisation and communication to external parties Okt ‘08 Apr ‘10 Jul ‘08 Jan ‘09 Jan ‘10 Update taxonomy FY 2009 Update taxonomy FY 2010 Start project First version taxonomy exposure draft Development and set up of the infra side

  8. Agenda Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  9. Business objectives 1 • Administrative burden reduction for companies Objectives 2 • The yearly yearly tax processing cycle needs to be flexible, as it changes every year 3 • Improved information exchange between government agencies: • National Bank of Belgium • FPS Finance • National Social Security Office • FPS Economy

  10. Reforming the yearly tax processing cycle at FPS Finance • Belgian tax forms are already very structured • Tax is a political instrument, and as such needs to be adapted regularly to reality. Tax law Tax return Trusted electronicversion tax return ‏ Operational execution‏ tax return process Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  11. Agenda Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  12. Design forstability and politicalflexibility Architectureapproach: • basedon the Belgian building blocksmethod Balanced design due to hybridapproach: • Non-dimensionalpatterns: FPS and biggest part of the taxdeclaration • Increaseddimensionality in the annexes: tax as a flexiblepolitical instrument Annexes Taxreturn 70% dimensional schedules Primaryfinancialstatement 0% 5%

  13. Deliverables flow

  14. Design/ build/ test in weeklyiterations • Control version management during the taxonomy build phase! • Versioning of Taxonomy templates, master excel files and DTS. • External architecture & design reviews: UBMatrix software partner. • Tax reviews: frequent involvement of tax experts from FPS Finance and Deloitte: • Focus on content, not technology • Discuss semantics

  15. Agenda Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  16. Critical Success Factors • Cooperation and commitment all involved parties • Keep time frame short to stay focused • Strong involvement business and management • Design (building blocks methodology) • Use business terminology from start

  17. Advantages of XBRL at FPS Finance Short term advantages using XBRL: • Multilingualism • Maintenance: New version / parallel maintain older versions • Performance and flexibility • Better service to users • Maintenance is more simple for business experts and increases business ownership of the yearlyversioningprocess • Reuse existing building blocks • Patterns not possible in XML Medium term advantages: • Dimensioning • IFRS already in XBRL • International collaboration Long term advantages: • Easier linkable to other systems • Full integration building blocks Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  18. What we learned so far • XBRL not easy to explain to business: • Use demo’s to illustratewhat XBRL does • Building blocksprinciple • POC approach: test the proposed model onsmall part Location/Filename/Unit/Author/Assistant (Change via 'View - Header and Footer')

  19. Next steps • Refining taxonomy together with intermediaries and software vendors • Continue convergence discussion • Build XBRL knowledge within IT and Business teams

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