XBRL, the solution to Fatca compliance?

The article focuses on the Extensible Business Reporting Language (XBRL) which can help companies on the Foreign Account Tax Compliance Act (FATCA). It states that 400,000 companies have reported their income tax returns in XBRL since May 2011. It mentions that the benefits of XBRL include the reduction of maintenance costs, reduction of administrative burden through electronic validation solutions, and automated fraud detection.