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 Im 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 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 filing from 01/01/05 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 are looking to deploy pre-filled tax returns by 2008 US: Update UBL will be the standard a prototype lab has been established with a WEB Services approach IRS and UK – transactions between financial data and Certificate of Residence (CoR) UK: eFiling Update seeing an increase in Agents provided WEB based services and software developers are encouraged to value add to these services spike in registrations due to monetary incentive to Small Businesses to lodge online ATO Change Program main focus is at the Agency level exposing registration and accounting data to Taxpayers need to be transparent, repeatable and everyone understands the rules ATO business model, in essence, is to make it as easy for Taxpayers to comply; sufficient interaction and information to manage risk provide certainty of outcome the releases will impact 3 main areas: client services, work management and integrated processing XBRL and Taxation in the UK forms filed as XBRL with supporting documents as PDFs - intention over time is to move PDFs to XBRL actively encouraging Software Developers to provide accounts in XBRL instead of PDF XBRL saves re-keying and also assists with Analytics) Netherlands National Taxonomy this project is very political - support from the European Union the fact that it is so political is key to success – total co-operation to reduce administrative burden Dutch Taxonomy will be to and version 1 should be available in February/March

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 the same look and feel, despite different systems data can flow more readily consistent flow of data one format – one face need context to make sense of 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 APRA at the moment but a lot of organisations are looking at adopting it although there is no software to support its adoption 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 – certification that a party is a resident of a Country and identify duplication of taxation proto-type methodology, and how we can do it completed analysis, ready to work on the specifications will have something to deliver 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 (discourse 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 NB: there is an embedded word document in this power point 4