Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Tax Reforms
Changes to tax policies aimed at improving efficiency, fairness, or revenue collection.
Sovereign Net Foreign Assets (SNFA)
A measure of a country's international financial position, indicating the value of its foreign assets minus its foreign liabilities.
Tangible Assets
Assets that have a physical form or substance. Tangible assets include both fixed assets, such as machinery, buildings, and land, and current assets, such as inventory of goods and crops.
Supply Chain Disruption
Interruptions in the flow of goods and services due to external factors.
Reevaluation
A process through which the estimated value of assets including properties, economic facilities, machinery, equipment, or any movable property, except securities, is updated based on a specific valuation standard and for a specific purpose.
Objection
A formal procedure made to the relevant committee or judicial body by a taxable person to an assessment or decision issued by the authority.
Incident Closure
The final step in the incident management process, indicating that the incident has been satisfactorily resolved and closed.
Releasing
Taking the excise goods out of the suspended status to the taxation status, and from the tax depository to the markets to be available for customers.
Divisions
Distinct units or segments within an organization, each responsible for specific functions, products, services, or geographic regions.
Fixed Liability
Represent long-term financial obligations that an entity is committed to over an extended period, often including long-term loans, bonds, or other contractual debts.
Deregistration
The request submitted by the taxpayer to cancel his registration once he stops practicing any of the activities that require registration, or if the registration requirements are no more applicable in accordance with the relevant laws, regulations, and instructions.
Accessibility
Services should be easily accessible to all users, covering inclusivity, equality, and providing or engaging ease of access.
Registered Payment Order
Total value of the registered payment orders by which the undisbursed balance item is attached.
Information Security
Information Security is basically the practice of preventing unauthorized access, use, disclosure, disruption, modification, inspection, recording or destruction of information by providing the necessary means and methods to protect it from internal and external risks.
Funds Subject to Zakat
Any funds resulting from any business established for the purpose of earning money, whether it is commercial, industrial.....etc.
Industrial Production
The output of manufacturing, mining, and utilities sectors, indicating the level of industrial activity in an economy.
Crude Oil Production
The process of extracting crude oil from oil wells or held within a country, which significantly impacts government revenues.
Government Activities
The activities listed in the government's final accounts, and entities that provide non-market services and are controlled by the government.
Revitalization
Efforts to boost economic activity and growth in a declining industry or region.
Personal Spending
The amount of money an individual or household allocates to cover personal expenses and consumption, including daily living costs and discretionary purchases.
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