Your gateway to comprehensive financial knowledge with more than 2000 financial and economic terms
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Financial Statements
Are formal reports that present an organization's financial performance, position, and cash flows, including the income statement, balance sheet, and cash flow statement.
Credit Against Revenue
Amount approved in the budget, which is funded by entity’s revenue.
Exchange of Information Agreement
An agreement to improve international tax compliance, which provides for the exchange of financial accounts information on a regular basis.
Interest Rates
A percentage that represents the cost or return generated by a loan or certain saving instruments.
Tax
An obligatory financial deduction from a normal or legal person who pays the state free amount of money in order to achieve public benefit.
Dividend Yield
A financial ratio that indicates how much a company pays in dividends relative to its stock price.
Budget Surplus or Deficit
The difference between revenues and expenditures. When revenues are higher than expenditures, the budget surplus is achieved, while the budget deficit is when expenditures exceed the revenues.
Operating Expenses
Total government spending on wages, salaries, allowances, purchase of goods and services, maintenance of fixed assets, social security programs, government support, grants, subsidies, and other operating expenses.
Government Entity-Specific Framework Agreement
A formal agreement between a specific government entity and one or more suppliers, contractors, or service providers, containing the terms and conditions of contracts to be awarded during a specified period, typically limited to meeting the specific needs of that government entity only.
Tax Refund
A refund request is submitted by the taxpayer or a representative with an official power of attorney. The Zakat, Tax and Customs Authority shall review the request, verify the existence of excess amounts paid by the taxpayer, and complete the procedures for refunding those amounts within thirty days from the date the Authority receives the request.
Collateral
Collateral, for the purposes of the Client Money Rules and Client Assets Rules, means money or an asset which has been paid for in full by a client and which is held by the Capital Market Institution or under its charge, either for its own account or under the terms of a deposit, pledge or other pledge arrangement.
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