Electronic submission of financial statements to the Trade Register coming soon

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The Finnish Patent and Registration Office (PRH) is preparing to receive electronic submissions of financial statements to the Trade Register in XBRL format. We aim to introduce a technical interface for receiving financial statements by the end of 2018. In future, bookkeeping agencies using bookkeeping programs will be able to submit financial statements easily to the Trade Register.

The PRH is carrying out the project in collaboration with the Association of Finnish Accounting Firms.

Software companies can build and test their applications together with the PRH. A test environment will be launched in the autumn of 2018. During 2019, we will be developing the system gradually based on customer feedback and other criteria.

What is XBRL?

XBRL (eXtensible Business Reporting Language) makes it possible to create, handle and process business reports electronically.

Financial statements in XBRL format display the information in a uniform manner according to standards and classifications. This reduces, for example, the risk of essential information being left out of the financial statements.

XBRL is being developed by XBRL International, which is a not-for-profit consortium. XBRL has already been introduced in Sweden, Denmark, Germany, the USA and China.

For more information, please contact

Mr Franck Mertens
Project Manager
Finnish Patent and Registration Office (PRH)
Tel. +358 29 509 5212