Annual accounts in XBRL/SBR
Procedures, deadlines, future developments
ECRF 2013 Bucuresti
John Sloof, The Netherlands Chamber of Commerce
Presentation outline
1. Obligations with regard to annual accounts
2. Standard Business Reporting / XBRL in the Netherlands
3. The near future
The Netherlands Chamber of Commerce 2013
Dutch Civil Code, Book 2, title 9
Compulsory to deposit an annual account with the Dutch Business Register
for legal persons:
•
•
•
•
•
•
•
Private Limited Company
Public Limited Company
Cooperative
Mutual Insurance Society
Association running an enterprise (turnover at least 4.4 million)
Foundation running an enterprise (turnover at least 4.4 million)
…. and some others
The Netherlands Chamber of Commerce 2013
Deposit obligations
The obligations depend on size
• Small only has to deposit
• a condensed balance sheet and
• limited notes
• Medium has to deposit
•
•
•
•
a somewhat simplified balance sheet,
a profit and loss account,
an annual report and
an auditor’s certificate (amongst other things).
• Large has to deposit
•
•
•
•
an extensive balance sheet,
an extensive profit and loss account,
an annual report and
an auditor’s certificate (amongst other things).
The Netherlands Chamber of Commerce 2013
Facts & figures
Facts & figures 2012
• Over 700,000 annual accounts deposited
• 98% of which is from small sized, private limited companies
Modes of delivery annual accounts (2012 numbers)
• On paper by mail
• PDF-format by e-mail
• By SBR, in XBRL
The Netherlands Chamber of Commerce 2013
(80%)
(19%)
(1%)
Presentation outline
1. Obligations with regard to annual accounts
2. Standard Business Reporting / XBRL in the Netherlands
3. The near future
The Netherlands Chamber of Commerce 2013
Standard Business Reporting / XBRL
• A Dutch Government initiative
• CCI together with Tax Administration, Statistics NL and Ministry of Education,
Culture and Science
• Keyword: standardisation
• Uses XBRL (based on XML)
Benefits SBR for entrepeneurs
SBR reduces reporting and administration work
SBR offers efficiency benefits: once-only input, several deliveries
SBR improves the quality of reports: less errors, early error detection
SBR assures the reception and processing of the reports
SBR is always actual as far as changes to current legislation are concerned
SBR is used internationally.
The Netherlands Chamber of Commerce 2013
Standard Business Reporting / XBRL
Aim and benefits CCI
Aim for the CCI is to eliminate the paper mode: all annual accounts by SBR.
Significant cost reduction:
- No manual processing of paper documents anymore
- No retyping anymore; contents are instantly available digitally
CCI uses the content of the annual accounts (turnovers, profits…) to benchmark
legal persons / companies.
The Netherlands Chamber of Commerce (KvK Nederland) 2013
Presentation outline
1. Obligations with regard to annual accounts
2. Standard Business Reporting / XBRL in the Netherlands
3. The near future
The Netherlands Chamber of Commerce 2013
The near future
SBR Planning
• Q4 2013: selfservice portal using the internet.
• January 1st, 2014 : depositing small sized annual accounts electronically only by
SBR (annual accounts on paper still accepted…)
• January 1 st 2015: the same for medium and large sized annual accounts
• Early 2015: amendment of the law
 From 2015 paper is no longer accepted
The Netherlands Chamber of Commerce (KvK Nederland) 2013
Thank you for your attention!
Questions?
The Netherlands Chamber of Commerce 2013