Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Output Gap
The difference between the actual output of an economy and its potential output at full capacity, indicating whether the economy is underperforming or overheating.
Ruling
A mechanism used by a taxpayer or taxable person to request a reliable opinion from the Zakat, Tax and Customs Authority (ZATCA) regarding the interpretation of the texts of the regulations, executive regulations, instructions, or international agreements to which the Kingdom is a party, regarding matters related to the economic activity that he currently manages or plans to start.
General Purpose Financial Statements
It is a structured expression of an entity's financial position and performance. It aims to meet users' needs by providing information about an entity's financial position, financial performance, and cash flows, which is useful to a wide range of users in making and evaluating decisions related to resource allocation.
Worth Index
A metric that measures how “worth it” a product or experience is to a customer. It can be explained by analyzing the 5 key Decision Drivers (Price, Social Proof, Quality, Relationship, Brand Identification) and determining the impact that specific experiences have on the customer’s decisions.
Related Advisor
An advisor that is advising the offeror or the offeree company in relation to an acquisition (whether through a private transaction or an offer); a Capital Market Institution acting for the benefit of the offeror or the offeree company; and an advisor that is advising a person who is acting in concert with the offeror or the offeree company in relation to an offer or in relation to the matter which is the reason for that person being a member of the relevant concert party.
Customs Territory
The part of land or sea subject to specific customs control and procedures, including: Maritime customs zone: Includes the sea area between the shores and the end of the territorial waters. Land customs zone: Includes the land between the shores or land borders on one side, and an internal line on the other side, determined by a decision of the minister or the competent authority.
Acting in Agreement
In the Rules on the Offer of Securities and Continuing Obligations, actively co-operating, pursuant to an agreement or understanding (whether formal or informal) between persons, to acquire interest in or exercise voting right in the shares or in the convertible debt instruments of the issuer.
Passenger Transport
A transport service where one or more passengers are transported in any vehicle, regardless of whether the vehicle is designed for passenger transportation or the supplier is licensed to provide passenger transport. Any goods carried with a passenger is part of passenger transportation.
Invitation Type
The type of tender invitation issued by the government to the private sector. It includes a general invitation to the entire private sector, which any company wishing to compete may apply for, and a special invitation to certain private sector companies, allowing them to apply for the tender.
Constructive Obligation
An obligation that derives from an entity’s actions where an established pattern of past practice, published policies, or a sufficiently specific current statement, the entity has indicated to other parties that it will accept certain responsibilities; and as a result, the entity has created a valid expectation on the part of those other parties that it will discharge those responsibilities.
Study of Government Real Estate Needs
Studying the real estate needs of government entities, evaluation of utilized and unutilized properties, and study of relevant requests, then determining how such need is fulfilled, either through allocation or lease.
Exempt Income
Some forms of non-taxable income, such as capital gains from the disposal of securities, as well as gains resulting from the disposal of property other than business assets, in accordance with the Income Tax Law and its Executive Regulations.
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