DataTracks Expands Its iXBRL Managed Tagging Services (MTS) to Ireland

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Jan 28, 2014, 08:56 ET

LONDON, Jan. 28, 2014 /PRNewswire/ -- DataTracks, a leading provider of XBRL services, has expanded its iXBRL tagging services to the Large Cases Division (LCD) and other Corporation tax payers in Ireland.

(Photo: http://photos.prnewswire.com/prnh/20140128/PH54028 )

DataTracks Expands Its iXBRL Managed Tagging Services (MTS) to Ireland. (PRNewsFoto/DataTracks) (PRNewsFoto/DATATRACKS)

The iXBRL tagging service from DataTracks is offered through its website www.datatracks.ie where users can register online, add entities, place orders, upload files and download output instance documents, when available.

The Office of the Revenue Commissioners, Ireland has mandated the iXBRL filing in stages. The first stage deals with Large Cases Division who are required to file iXBRL financial statements starting October 1, 2013. The subsequent stages will include Special Purpose Vehicle companies starting May 1, 2014 and for all other Corporation tax payers (exceptions apply) starting October 1, 2014. Revenue Ireland has decided to accept iXBRL files with full list tagging. The Tax Computations taxonomy is expected to be made available any time soon.

DataTracks will be providing the tagging services to every category of taxpayers in Ireland, as and when the applicable mandate is rolled out by the Revenue Commissioners. In addition to the mandated filers, DataTracks will also provide its services to the voluntary filers.

Dominic Savio, Vice President, Business Development said, "We are excited to expand our services to Ireland. Having processed more than 12,000 files in the UK since iXBRL was made mandatory, and having served thousands of clients globally, we are ready to extend the same high quality of service to our clients in Ireland as well."

DataTracks provides the services with its team of certified accountants experienced in US GAAP, UK GAAP, India GAAP and IFRS. The XBRL professionals of DataTracks have the expertise in working with various regulatory environments (SEC in USA, HMRC in UK, MCA in India) and have deep knowledge of various accounting taxonomies and different commercially available XBRL applications.

DataTracks is one of the earliest providers of iXBRL managed tagging services in the UK to receive HMRC recognition for converting financial statements and tax computations to iXBRL format.

About DataTracks: DTracks Limited is a subsidiary of DataTracks Services Limited (http://www.datatracksglobal.com). With more than 8 years track record, DataTracks is a global leader in preparation of financial statements in XBRL and iXBRL formats for filing with regulators. DataTracks prepares more than 12,000 XBRL statements annually for filing with regulators such as SEC in the United States (http://www.datatracks.com/), HMRC in the United Kingdom (http://www.datatracks.co.uk/) and MCA in India (http://www.datatracks.in/).

Media contact: T R Santhanakrishnan, Email, +353 (0)766 805078