Tax XML Hosted by the Australian Taxation Office (ATO) 31 st January to 4 th February 2005 Technical Committee Conference Sydney AUSTRALIA

OASIS TaxXML Technical Committee Conference 31 st January to 4 th February 2005 Sydney, Australia page Tax XML Contents Page Executive Summary1 Overview of OASIS and TaxXML Representation Key Committee Outcomes Future Meetings Key Points from some of the Presentations and Updates2 Updates from Netherlands, UK and US ATO Change Program XBRL and Taxation in the UK Netherlands National Taxonomy Building XBRL GL 3 XBRL in Australia Identification: Customer Information Quality (CIQ) Certificate of Residence (CoR) Working Session update Core Component Technical Specification Summary of Agenda and Detailed Notes4 i

OASIS TaxXML Technical Committee Conference 31 st January to 4 th February 2005 Sydney, Australia page Tax XML Executive Summary Key Committee Outcomes a collaborative effort is required between Government, Software Developers and the Accounting community to achieve successful interoperability XBRL is seen as a good tool for the sharing of financial information, however it is important that we understand what that information is and agree on definitions the Committee agreed to shift their position on CIQ from one of “watching brief” to “supporting” its further development with a view to future adoption further work is required to define taxation requirements for UBL agreement to pursue use of XBRL-FR requested the XBRL consortium to further develop XBRL-GL urgently so that it can be considered for use in the future Up-coming meetings and Events OASIS TaxXML Face-to-Face 28 and 29 April 2005 In Boston (to be Hosted by the IRS) June 2005 In Philadelphia (to be hosted by Vertex) XBRL Conference 26 and 27 April 2005 (Public Days) In Boston Teleconferences (refer to OASIS website) 1 Overview of OASIS and TaxXML OASIS The Organisation for the Advancement of Structured Information Specifications (OASIS). It is a not-for- profit, global consortium that drives the development, convergence and adoption of e-business standards TaxXML Technical Committee Their purpose is to identify appropriate standards for Tax Administrations and ensure future development will meet taxation needs. It is not about developing new standards Representation Tax Administrations UK US Germany Netherlands New Zealand Australia Other Organisations Big 4 accounting firms Software Development representatives Individual representatives

OASIS TaxXML Technical Committee Conference 31 st January to 4 th February 2005 Sydney, Australia page Tax XML Key Points from Updates and Presentations 2 Netherlands: Update compulsory Company electronic filing came into effect from the 1st of January 2005 Tax and Customs are working with other Government Departments to have a single verification solution a Whole of Government approach is being taken by building a new infrastructure which will be used by several Agencies and is expected to take 2 years the Netherlands Tax Administration are looking to deploy pre-filled tax returns by 2008 US: Update UBL will be the standard used by the US a prototype lab has been established with a Web Services approach IRS and UK are exchanging transactions between financial data and Certificate of Residence (CoR) UK: eFiling Update the UK is seeing an increase in Agent registration Web based services have been provided and software developers are encouraged to value add to these services there is a spike in registrations, which is due to a monetary incentive to Small Businesses to lodge online ATO Change Program the ATOs main focus is at the Agency level registration and accounting data is now being exposed to Taxpayers our dealings with our Clients need to be transparent, repeatable with everyone understanding the rules the ATO business model, in essence, is to make it as easy for Taxpayers to comply, with sufficient interaction and information to manage risk the ATO will provide certainty of outcome to Clients the releases will impact three main areas: Client services, work management and integrated processing XBRL and Taxation in the UK forms are filed as XBRL with supporting documents as PDFs - the intention over time is to move the PDFs to XBRL the UK IR is actively encouraging Software Developers to provide accounts in XBRL instead of PDF XBRL saves re-keying and also assists with Analytics Netherlands National Taxonomy the project is supported by the European Union the Dutch Taxonomy will be approximately to elements and version 1 should be available in February/March 2005

OASIS TaxXML Technical Committee Conference 31 st January to 4 th February 2005 Sydney, Australia page Tax XML Key Points from Updates and Presentations Continued 3 Building XBRL-GL: Challenges the key motivation is a single harmonised solution to improve the end to end reporting obligations for small business XBRL GL contains a universal audit file XBRL GL allows for easier reporting (such as financial, statistical and tax) by sorting and filtering the data XBRL in Australia need data to be coming in in order to test the capabilities where XBRL is appropriate, we encourage it’s use now our job is to find the natural owners for the Taxonomies adoption in Australia is only by APRA at the moment, though other Organisations are displaying an interest Identification: Customer Information Quality (CIQ) CIQ is a sizable standard - designers need to learn it some things in CIQ are not needed – thorough analysis will point to what is unnecessary one view: XBRL will be hampered if it does not pick up CIQ as its standard for client information – CIQ should be embedded into XBRL Certificate of Residence (COR) Session Update Certificate of Residence is the certification that a party is a resident of a Country and allows for the identification of duplication of taxation it is necessary to proto-type our methodology and how it can be implemented analysis has been completed and work will commence on the specifications it is anticipated that the specifications will be delivered at the next face-to-face meeting Core Components Technical Specification several years ago UBL was part of UNCEFACT but broke away – now looking to move back under OASIS umbrella

OASIS TaxXML Technical Committee Conference 31 st January to 4 th February 2005 Sydney, Australia page Tax XML Summary of Agenda and Detailed Notes UBL and XBRL Working group Discussion and adoption of the last teleconference minutes Update of developments within Tax Administrations (Germany, UK, US and Netherlands) ATO Change Program (presenters and demonstrations from the ATO and Industry) International Tax Information Exchange (presentation by Peter DeCastro) XBRL and Taxation ( presentations by) Building XBRL-GL (presentation by Eric Cohen) XBRL in Australia (by Trevor Pyman The Accounting Debate (exchange of information with accounting professionals in Australia) Identification of Taxable Persons and Companies (discussion with Ram Kumar) Position paper for Tax Administrations ver. 2 (discussion/ plenary session) Certificate of Residence (CoR) (working session) XBRL (working session) Report back CoR group Report back from XBRL group ebXML core components (overview by Sylvia Webb and discussion) OECD Standard Audit File (SAF) (discussion) Indirect Tax (working session) Information Management and Analytics in the ATO (presented by John Body and Stuart Hamilton) On-line Business and Authentication (discourse by Paul Madden) Future Business Projects and Outcomes for the Committee (discussion) STF - the TIES view (presentation by Arndt Liesen) Review of Decisions and Action Plan Planning upcoming Teleconferences and Face-to-Face Meetings 4