In Estonia entrepreneurs can submit annual reports in XBRL format via the e-reporting environment of the e-Business Registry Company Registration Portal. The created uniform e-reporting environment makes the entry and submission of data significantly more convenient for companies, as there is one specific place, form and way for submitting all required data. The new environment enables the companies not only to submit their annual reports, but also to prepare them in full format. The e-reporting environment provides set forms (which are generated based on xbrl 2.1 compatible taxonomy) and based on these companies can prepare their basic annual reports and add other necessary documents. Entrepreneurs can digitally sign their reports with an ID card, have them audited by the auditor and submit them electronically to the Commercial Register directly. The processing of business data became significantly quicker and easier, as the data can be processed immediately and are accessible to all interested parties both in the private and public sectors exactly after submission.
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