Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
Most searched terms
Debt Consolidation
The process of combining multiple debts into a single loan with more favorable repayment terms.
Intra-GCC Supplies
Goods or services supplied by a supplier residing in a member state of the GCC to a customer residing in another member state.
Supplies subject to Reverse Charging
Supplies on which the Customer is obliged to pay the VAT due under the Reverse Charge Mechanism.
Tax-Exempt Supplies
Goods on which the tax is not charged, and the associated input tax is not deducted, in accordance with the provisions of the Unified Agreement for VAT of the GCC, the VAT law, and its implementing regulation.
Expansion of Excise Tax Scope
Any change to the excise tax legislation or any issuance of decisions in the kingdom which results in additional categories of goods becoming subject to tax.
Financial Forecast
A prediction or estimate of future financial performance, often including revenue, expenses, profit, and other key financial metrics, used for planning and decision-making.
Commitment Culture
The commitment culture to ethical values, professional behavioral standards and beliefs, which the entity seeks to implement to achieve the desired results, in accordance with the Governance Law and Internal Control Law in the entity.
Adjustable Interest Rate (AIR) Table
A financial tool showing variations in interest rates over time for adjustable-rate loans.
Monthly Account Schedule
A report that covers all actual financial expenses of items from the budget provisions, revenues and the intermediary accounts. This report covers all financial periods.
Auditee Entity
The entity or individual being audited in financial and business audits, referring to the organization or person under examination.
Payment Order Status
The status of the payment order from its creation until its disbursement (under approval, approved, awaiting disbursement, payment has been made ... etc.).
Emergency Case
A serious situation that poses an immediate risk to the public security, public health life, property, or environment, or in which there is a breach that threatens loss of life or property and cannot be dealt with by the normal competition procedures.
Quotation Acceptance Status
The status of accepting the quotation on a Etimad platform.
Optional Registration Limit
The minimum actual value of supplies according to which a taxpayer can to register for VAT purposes, if his annual revenue is between SAR 187,500 - 375,000.
Obligating Event
An event that creates a statutory or constructive obligation and results in the entity having no realistic alternative to settle that obligation.
Financial Caution
The practice of managing finances, budgets, and economic policies in a cautious, responsible, and careful manner to ensure financial stability and sustainability.
On-Demand Account
A call deposit account is a bank account for investment funds that offers the advantages of both a savings and a checking account.
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