Irish Revenue Commissioners Announce XBRL Adoption Plans

DUBLIN, September 29, 2010 – Revenue Commissioners Ireland announced today the advancement of
Irish Government taskforce on Reduction of Administrative Burden after extensive collaboration with
XBRL Ireland:

“In support of mandatory eFiling Revenue is planning to implement an XBRL solution to facilitate the
electronic filing of financial statements and tax computations. Revenue has been following the
development of XBRL since its inception. It believes given the current level of maturity of XBRL and the
widespread international adoption of the standard, not least by the Securities and Exchange Commission
in the United States and HMRC in the UK with whom it has many mutual customers, that the time is right
to adopt the standard. In addition, in many administrations, the implementation of XBRL has been led by
government organisations in recognition of the broader national economic benefits a common standard
will bring. As one of the largest processors of information in the country Revenue has a role in furthering
this agenda. It also recognises the fact that a common standard, once widely adopted throughout the
Community, will facilitate a reduction in the regulatory reporting burden currently endured by business.
Revenue will be engaging in widespread consultation with the Institute, practitioners, software companies,
and business and other representative bodies to ensure the successful delivery of this project. It is also
fully engaged with other regulators with whom business must engage such as the Central Statistics Office
and the Companies Registration Office. The implementation of XBRL in other administrations has been
the result of collaboration between all interested parties and there is no reason why this approach cannot
be successfully applied here in Ireland.”

Conor O'Kelly - Director, XBRL Ireland