Capital Assets
(In Arabic: اصول رأسمالية) Material (Tangible Assets) and immaterial (Intangible Asset) assets that form part of a business’s assets which are allocated for long-term
Cash Accounting Basis
(In Arabic: محاسبة على الأساس النقدي) An alternative method for calculating and reporting VAT based on the payment date for each supply.
Certificate of registration for VAT
(In Arabic: شهادة التسجيل في ضريبة القيمة المضافة) Zakat, Tax, and Customs Authority issues a VAT registration certificate to the taxpayer after processing and
Commercial Books
(In Arabic: دفاتر تجارية) a set of commercial books that the tax or zakat payer keeps, in which he records all the details of
Commitment
(In Arabic: التزام) It is the fulfillment of all the obligations, tasks, and duties imposed on the taxpayer or the person subject to tax
Compliance
(In Arabic: امتثال ضريبي) Voluntary commitment to the provisions of laws, regulations, and bylaws for Zakat or tax.
Consideration
(In Arabic: مقابل) Everything collected or to be collected by the Taxable Supplier from the Customer or a third party for the Supply of
Continuous Supply
(In Arabic: توريد مستمر) The provision of goods or performance of services continuously across a defined period.
Controlled Transaction
(In Arabic: معاملة الأشخاص المرتبطين) Means any Transaction involving Related Persons or Persons under common control. Controlled Transactions shall include any national Transactions or
Credit Note
(In Arabic: اشعار دائن) Commercial documents issued by a supplier/seller to a buyer, required by law to evidence a subsequent change to consideration of
مكتب رقم 12 – برج بنك التنمية حي الغدير، الرياض، المملكة العربية السعودية
