Ukraine completes the switch to XBRL-only reporting
From 1 November 2025, all Ukrainian companies preparing financial statements under international standards will report exclusively in XBRL. The National Securities and Stock Market Commission of Ukraine (NSSMC) has ruled that submissions must go through the Financial Reporting Collection Centre, ending the use of XML and cementing XBRL as the country’s sole format.
This is a big step. It marks the full-scale move to structured, machine-readable reporting in Ukraine, sweeping away legacy formats and placing XBRL at the heart of financial oversight. The decision gives regulators a single, consistent stream of high-quality data, while companies now have a clear direction of travel: prepare, tag and file in XBRL, or risk being left behind.
The reform also clears up previous ambiguities about when and how financial statements should be filed with the Commission. Under Ukraine’s 1999 Accounting Law, financial and consolidated statements prepared under IFRS must follow the national XBRL taxonomy, now formally the single format for submission.
Ukraine is joining the growing group of markets where structured reporting is mandatory, from EU banking disclosures to US securities filings. The reform signals Ukraine’s determination to align with international standards, strengthen transparency in capital markets and build investor confidence. By embedding XBRL as the single format, the country is laying the foundations for stronger supervision, enhanced international visibility and closer integration with the global financial system.
Read more about the NSSMC decision here.
