Italy’s digital leap: XBRL taxonomies for Confidi minori now live

Posted on March 17, 2024 by Editor

The Agenzia per l'Italia Digitale (Agency for Digital Italy) recently published XBRL taxonomies for the submission of financial statements by smaller mutual guarantee institutions, or Confidi minori.

This publication allows institutions to comply with XBRL reporting regulatory obligations outlined in a Ministry of Economy and Finance decree in August 2022. These regulations govern the provision of credit by mutual guarantee institutions.

Although the obligation to submit XBRL financial statements comes into force in 2025, smaller mutual guarantee institutions have the option to submit voluntary XBRL financial statements for the fiscal year 2023 onwards. The Business Register has already implemented the required functionality on its website, allowing companies to get ahead of the curve.

These taxonomies are the result of around two years of collaborative effort involving XBRL Italy, the Supervisory Authority for Smaller Mutual Guarantee Institutions, the University of Trento, Assoconfidi, and Asso112.

The XBRL taxonomy can be found on the XBRL Italy and Agenzia per l'Italia Digitale websites.

Read more (in Italian), and access the taxonomy, here.