Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
Most searched terms
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.
Inefficiencies
Shortcomings, waste, or weaknesses in processes or operations that hinder productivity or result in resource underutilization.
Title Deeds
Legal documents that establish ownership of a property or asset, often used as collateral for loans or to prove property rights.
Vision Realization Programs
Initiatives, projects, and programs that aim at achieving the economic and social targets of the Saudi Vision 2030. The Council of Economic and Development Affairs monitors its performance and implementation.
Manifest
A document containing a full description of the goods carried on the various means of transport.
Country of Origin
The country that manufactures the items stated in the bill of quantities, and shown by the bidders.
Bill of Lading
A legal contract that serves three functions: a receipt for the goods, a document of title, and proof of the contract of shipment of goods. This is a document prepared and issued by a shipping company when goods being exported are shipped by sea.
Negative Assurance
A form of assurance where an auditor expresses a lack of evidence to support specific assertions, typically used in review engagements.
Off-plan Sale
Sale or lease of a detached real estate unit before its construction is completed.
Affirmed
A reconfirmation or maintenance of a previously assigned credit rating by a credit rating agency.
Prequalification
Verification of government entity of availability of the necessary qualifications and capabilities to carry out works or secure purchases with bidders before submitting bids.
Beneficiary Onboarding
The process of introducing beneficiaries to the products and services and guiding them to use the benefits offered, as well as providing ongoing support throughout their journey, from registration to becoming permanent beneficiaries.
Payment Order’s Date of Receipt
The date of receipt of the payment order to the Ministry of Finance and before its registration on the system.
Creation Date of Payment Order
The date of creating an order for payment through the Etimad Platform at the government entity.
Sending Date
The date of sending the invitation to issue a document or transaction.
Creation Date
The date of uploading the competition on the bidding system by the government body.
Payment Order’s Registration Date
The registration date of payment order in the financial system of the Ministry of Finance.
Date of Registration
The date on which the person is registered in accordance with the provisions of the Value Added Tax System in the KSA and its Implementing Regulations, or as specified in the tax registration certificate issued by the Zakat, Tax and Customs Authority.
Fair Trade
A movement promoting ethical trade practices, ensuring producers (especially in developing countries) receive fair wages and work in safe conditions.
Visitors
Searches