The release of a national General Purpose XBRL Taxonomy by the China Ministry of Finance last month during XBRL21 mandates XBRL across banking, insurance, capital markets, taxation and audit in China. This represents the largest scale integration of the standard to date in the world, building upon  a steadily increasing series of regulatory requirements to use XBRL in Japan, U.S., Australia, U.K., many EU member states and others for tax, annual aounts, rporate financials, mutual funds and standard business reporting.

“ernments and tax authorities are increasingly regnizing the power and value of XBRL in streamlining the gathering of information from the public and businesses and sharing that information across agencies efficiently and st-effectively,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “The rced burden on ernments using XBRL is substantial, as we have seen with the SBR programs in Australia and the herlands. Ireland’s Revenue mission recently announced that it is planning to use XBRL for tax reporting; The U.K. HMRC requirement for tax reporting using the inline XBRL standard goes into effect next April; Germany, Denmark and other untries are also using XBRL for tax reporting.  In total, millions of listed and privately held mpanies are using XBRL today for tax reporting.  Look beyond that to XBRL requirements for listed mpanies, and the market is now seeing financial information in XBRL format from mpanies representing more than 75% of the world’s total market capitalization.”

An XBRL taxonomy developed by SWIFT, DT and XBRL U.S. for rporate actions was also presented during XBRL21and is projected to save more than $900 million for anizations reporting and receiving  billions of rporate actions transactions annually in the U.S. alone. “I expect to see increasing interest from other untries in the use of XBRL for rporate actions given the projected st-savings, the improvement in auracy, and the efficiency in analyzing important rporate mmunications to investors,” added Mr. Fragnito.

XBRL22, the next global gathering of tax authorities, securities mmissioners, banking supervisors, rporate executives, aountants and technology vendors, will take place in Brussels, Belgium, May 17-19, 2011. With a theme of “Sharing Enomic Information in a Global World,” XBRL22 will focus on the use of XBRL tagged data for performance measurement, business intelligence, management reporting, investment management, and regulatory oversight. 

“With XBRL International’s recent launch of an abstract model working group, we ultimately hope to catalyze greater development of software tools that can gather and analyze XBRL formatted information,” added Mr. Fragnito. “The abstract model lays a solid foundation for software architects, engineers and developers to expand XBRL tools by creating a mmon specification blueprint, ultimately lowering development sts for solutions, project implementation, users and reporting entities.”

In other news, XBRL International’s CEO Anthony Fragnito issued the following statement related to the recent management changes announced by XBRL U.S.:

“On behalf of XBRL International, I would like to thank Mark Bolgiano and wish him suess with his future endeavors.  I would also like to welme Campbell Pryde to his new role as President and CEO of XBRL U.S.  The XBRL standard is being used by millions of businesses and many ernment agencies around the world today.  XBRL International looks forward to our ntinued llaboration with XBRL U.S. and the other 26 jurisdictions around the world to cate the market about the benefits of XBRL and support its adoption.”

For more information about the upming XBRL22 global nference, please visit http://nference.xbrl./. For inquiries about sponsorship and exhibitor opportunities, please email sponsorship@xbrl..