Mr. HARM JAN VAN BURG (Project Leader – Dutch Taxonomy Project) “La experiencia práctica del Mº de Finanzas de Holanda”

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Presentation transcript:

Mr. HARM JAN VAN BURG (Project Leader – Dutch Taxonomy Project) “La experiencia práctica del Mº de Finanzas de Holanda”

The Dutch Taxonomy Harm Jan van Burg, Ministry of Finance

The Dutch Taxonomy Project ›Reduction of administrative burdens of companies ›Taxonomy for Dutch financial reporting ‒Annual accounts ‒Taxes ‒Financial statistics ›Interdepartmental project ‒Ministry of Justice ‒Ministry of Finance

Status of project ›First test release of the Dutch Taxonomy was presented to minister of justice, June 16 ›Modular architecture ›In progress ‒Standardization of context information ‒Further normalization ›Chain testing by performing a business case ›Stakeholders still on the same track

Architecture Dutch Tree Domain specific Form sets Per subject / target group IFRS Sets Taxes Statistics … IFRS Waiver taxonomy GEN-Base Generic Elements Netherlands DataTypes Elements annual account Relations Report Sets DataTypes (RJ) Relations

Standardization of context information Issues: ›Identifying companies ›Reporting frequency ›Types of reports and status ›Audit reports

Normalization ›Tax domain taxonomy ‒lose specific back office elements ‒normalize over different areas taxations (company tax, vat, etc) ‒normalize with (Dutch) IFRS domain taxonomy ›Statistic domain taxonomy ‒normalize with tax domain taxonomy

Business case Full chain approach I Companies Collaboration between companies, consultancy and software vendors IIInfrastructure III.Back office systems of governmental bodies IV.The Dutch Taxonomy

Business case

Goals of business case Obtain and keep momentum ›Each participant needs enough added value ›Manage expectations ›Gear different levels of speed

Goals of business case Operational ›Test first test version of the Dutch taxonomy ‒completeness ‒ usability ›Improve Dutch Taxonomy ‒next version September 2005 ‒End 2005 version 1.0 ›Test reporting processes

Best practices ›The perspective (and processes) of the companies is leading ›Use business criteria / what is in for me? (cost reduction & better services) ›Each participant needs an added value ›Be transparent ›Obtain sufficient top down (political) pressure ›“Act” instead of “talk”

Next steps after releasing version 1.0 ›Collaboration on European and international scale ›Operational  material supervision ›Expand taxonomy ‒Other domain taxonomies ‒XBRL GL

Thank you