Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Endowmenteree
The person who establishes and contributes assets to a Trust. Can also be referred to as the founder of the Trust.
Workpaper
Documents, records, or files used in accounting, auditing, or research to document the evidence, procedures, and results of work or analysis.
Treasury Unit
The purchased units that the fund manager holds in accordance with the provisions of the Investment Funds Regulations and the Real Estate Investment Funds Regulations.
Transport Unit
Any means of transporting goods suitable for use in a Customs transit operation or under Customs seal.
Labelling
Displaying information on assets to indicate classification, ownership, and other management information.
Investor Access
The ease with which investors can enter or exit an investment, or gain access to financial markets.
Zakat Base
The Zakat payer collects his money from all the types of Zakat he has, and the Zakat rate (2.5%) is collected from him.
Dealing Day
Any day on which the units of an investment fund may be subscribed for and redeemed.
Special Purpose Entity Trustee
The person under the name of which the shares of a special purposes entity that issues debt instruments are registered, and it shall not be considered an owner of such, in accordance with the provisions of the Rules for Special Purposes Entities.
Tax Suspension Status
The situation in which the tax due on locally produced or imported excise goods is suspended.
Credit Rating Agency (CRA)
Organizations that assess and assign credit ratings to individuals, companies, or government entities. Some well-known rating agencies include Standard & Poor's (S&P), Moody's, and Fitch Ratings.
Customs Clearing Agent
A person who carries on the business of arranging for the Customs clearance of goods and who deals directly with the Customs for and on behalf of another person.
Settlement Agent
A person with or through whom a capital market institution effects settlement of a transaction.
Foreign Direct Investment (FDI)
An investment that reflects a long-term relationship and continuous interest by economic entities resident in an economy other than the Saudi economy. This means that the foreign investor, individually or as part of a group of foreign investors, owns 10% or more of the voting power of the shareholders' rights, entitling the investor to exercise some form of control or influence over the decision-making process in a way that serves the investor's interests. This process is thus described as foreign direct investment.
Single Transitional Excise Return
A form of Excise Tax return filed by a Holder of Excise Goods. The return is filed only once with respect to the inventory as of the date of implementation of the Excise Tax scope expansion. The return is filed to declare and pay the Tax due on Excise goods held.
Customs Declaration for Travelers
A form submitted by the traveler upon entering or leaving the Kingdom of Saudi Arabia in which he declares about a group of items that must be declared, such as coins and jewelry whose value reaches 60,000 SAR or more, as well as purchases whose value exceeds 3,000 SAR or more, as well as goods subject to excise tax, goods and materials prohibited and restricted.
Temporary Admission (ATA) Carnet
An international customs document which, issued under the terms of the Temporary Admission (ATA) Convention and the Istanbul Convention, incorporates an internationally valid guarantee and may be used, in lieu of national customs documents and as security for import duties and taxes, to cover the temporary admission of goods and, where appropriate, the transit of goods. It may be accepted for controlling the temporary exportation and re-importation of goods but, in this case, the international guarantee does not apply.
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