Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
Most searched terms
Electronic Notes/E-Invoice Modifications
Debit and credit notes that must be issued in accordance with the VAT Law and its Implementing Regulation, and which are issued in a structured electronic format through electronic means. Paper notes that are converted into electronic format through copying, scanning, or any other method, are not considered electronic notes for the purposes of this Regulation.
Budget Preparation Escalation Plan
A plan aimed at controlling the implementation of any request submitted to the ministry, for example the state’s general budget preparation project, to be done in a correct manner and within the specified time frame. The escalation plan includes the procedures followed and the models used to implement these actions, such as escalation letters.
Public Goods
Products that are not provided in a purely free market are those that have two special characteristics: non-rivalry which means that consumption by one individual does not reduce the amount available to others, and non-excludability which means that once the good (or service) is provided, individuals cannot be prevented from consuming it even if they do not pay for it.
Equity Securities
Any financial instrument issued by a legal entity, representing a legal ownership or financial right of a person in that entity or its project. This includes shares, equity stakes, and any document representing participation in the capital or entitlement to profits or part thereof, and some of these instruments, such as contribution bonds, may be tradable.
Control
In the Merger & Acquisition regulations, in the ability to influence the actions or decisions of another person, whether directly or indirectly (excluding indirect ownership of shares through swap arrangements or through an investment fund whose unit owner have no discretion in its investment decisions), individually or collectively with a person or persons acting in concert, through holding (directly or indirectly) 30% or more of the voting rights in a company. moreover, “controller” shall be construed accordingly.
Appointed Person
An Appointed Person, weather he was administrator, personal representative, executor of a will, receiver or liquidator who has been appointed legally to administer, manage, liquidate or wind up the affairs of a Taxable Person including a deceased natural Person. The appointed person shall notify the Zakat, Tax and Customs Authority (ZATCA) in writing of the appointment within twenty days of the date of the appointment.
(Value Added Tax)VA Certificate of Registration
An official document issued by the Zakat, Tax and Customs Authority (ZATCA) that confirms the establishment's registration in the Value Added Tax system and authorizes it to engage in activities subject to tax. It includes: the name of the taxpayer, his account number (VAT Tax Identification Number which must be shown in tax invoices), and the effective date of registration. Each VAT certificate contains a special number.
Financing Transaction
The transaction under which a special purposes entity raises finance by the issue of debt instruments, including the acquisition, transfer or other use of assets required to generate amounts due under the terms of those debt instruments, and the issue of the debt instruments itself.
Real Estate Transaction Tax
An indirect tax imposed on all transactions under which a legal effect resulted in the form of transferring the right of ownership of the real estate or possession of it for the purpose of owning it, or the possession of its benefit from one person to another; transactions may be based on an agreement between the two parties such as selling or based on the independent freewill of the owner such as a devisor’s will.
Open-Ended Investment Fund
An investment fund with changing capital, the units of which would increase with the issuance of new units, and decrease with redemption by unitholders of some or all of their units. Unitholders are entitled to redeem the value of their units at their net asset value on dealing days set in the Fund’s Terms And Conditions in accordance with the Investment Funds Regulations.
Offer
In the Mergers and Acquisitions Regulations, “offer” means any public offer subject to the Mergers and Acquisitions Regulations and made to all holders of voting shares in the offeree company, excluding offers made by the same company as the offeree, for either of the following purposes: to purchase voting shares in the offeree company, or to effect a merger with the offeree company. Any reference in the Mergers and Acquisitions Regulations to the term “offer” or “potential offer” means any of the following: a merger or potential merger; an offer and a partial offer for the purpose of control; a potential offer or a potential partial offer for the purpose of control; or a partial offer or a potential partial offer not for the purpose of control.
Independent Board Member
In the Capital Market Institutions Regulations, a non-executive member of the board of directors is a member who enjoys full independence in position and decisions, and to whom none of the circumstances negating independence stipulated in paragraph (c) of Article 53 of the Capital Market Institutions Regulations applies.
Visitors
Searches