1. 19th XBRL International Conference “Reducing regulatory burden with XBRL: a catalyst for better reporting” June 22-25, 2009 Paris, France
Reducing the Reporting Burden in the Regulatory Environment,
E-gov by Swedish authorities in collaboration,
Pia Löfgren and Mikael Ålund

2. Filing with two (or more) authorities through one electronic submission
Joint study between the Swedish Tax Agency and the Swedish Companies Registration Office
Coordinated and simplified filing of financial information for limited companies by the use of XBRL
The primary aim is to reduce the administrative burden for the companies
Any possible benefit for the authorities is of subordinate purpose

3. Using the same data for different purposes (current situation)
Limited companies yearly files
Annual accounts for publication with the Swedish Companies Registration Office and
Financial information for taxation with the Swedish Tax Agency
This information is submitted at different dates, with different authorities and in different formats, although it by large contains identical data 3

4. Using the same data for different purposes (tomorrows situation)
The Swedish Tax Agency and the Swedish Companies Registration Office proposes to establish
Simultaneous filing of both annual accounts and financial information for taxation
One common interface for limited companies
A joint electronic portal
Performed by the use of XBRL 4

5. Necessary preconditions
Continous taxation, I.E. the companies can file for taxation 7 months after the end of the fiscal year instead of, as today, at a fixed date
An already existing and agreed taxonomy for limited companies is used as a template for the establishment of the annual accounts, enabling that the balance sheet and the profit and loss statement is produced in a standardised way by use of common sets of elements
XBRL is accepted as the standard for the filing and the exchange of information 5

6. Challenges
The introduction of new services and new methods are always difficult and time consuming
The change from traditional to electronic filing is percieved as complicated, risky and expensiv
Different parties with different interests are affected and has to be convinced
Obvious benefits are needed
Requires changes in current laws 6

7. The beginning of a major cooperation between Swedish authorities?
Common and agreed standards for
Electronic reporting and exchange of information creates the necessary
Requirements for increased efficency for
The good of the companies, but also for the authorites
Other authorities has therefore stated their interest to participate in our cooperation 7