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Input Tax
The tax borne by a taxable person in relation to goods or services supplied or imported for the purpose of carrying on an economic activity. It includes supplies or imports made only in KSA as per KSA VAT Law.
Demand Weakens
A situation where consumer or business demand for goods and services declines, often due to economic downturns.
Initial Public Offering (IPO)
The process of offering shares of a private company to the public for the first time.
Indirect Taxes
Taxes that a customer bears and are imposed through an intermediary so who is responsible for collecting and remitting them to the Zakat, Tax and Customs Authority, such as value-added tax and excise tax.
Angel Investor Tax
A tax applied to investments made by angel investors in startups, sometimes with exemptions to encourage entrepreneurship.
External Pressures
Economic or political influences exerted by foreign entities (governments, institutions, or markets) that impact a country’s policies or economy.
Application Controls
Controls relating to the scope of operations or application systems; This includes (data edits, segregation of business functions, balancing of processing aggregates, transaction registration and error reporting).
Detective Controls
Controls that are put in place to identify specific actions after they have taken place.
Renewable Energy
Energy generated from renewable sources like wind, solar, and hydroelectric power, with lower environmental impact compared to fossil fuels.
Quotation Method
The method that the supplier is going to submit his quotation including the following Submitting the proposal in two separate files (technical and financial), and submitting the offer on one file and it includes (technical and financial).
Application for Listing
In the Rules on the Offer of Securities and Continuing Obligations, any application submitted to the Exchange to list securities of any type.
Mortgage Applications
Applications made by individuals to borrow money for the purpose of purchasing or refinancing real estate.
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