Encyclopedia Archive | الصفحة 8 من 17

A C D E G I L N O P R S T U V W Z آ إ ا ب ت ح خ د ر س ش ص ض ط غ ف ق م ن ه و

Taxable Person

(In Arabic: شخص خاضع للضريبة) A person who carries out an economic activity independently with the aim of generating income, and is registered or obligated to register for tax purposes in accordance with the provisions of The Unified Agreement for VAT of GCC.

Taxable Supplies

(In Arabic: توريدات خاضعة للضريبة) Supplies on which the tax is imposed, either in the standard rate or at the zero rate with deducting the associated input tax, in accordance with the provisions of The Unified Agreement for VAT of GCC, VAT law, and its implementing regulation.

The Unified Agreement for VAT of the GCC

(In Arabic: الاتفاقية الموحدة لضريبة القيمة المضافة لدول مجلس التعاون الخليجي) An agreement was issued in November 2016 and aims to establish a unified framework for the application of Value Added Tax in the Gulf Cooperation Council countries, which will be imposed on the supply of goods and services. It can be accessed through this link

Transaction

(In Arabic: معاملة) Any arrangement, understanding, agreement, or mutual practice whether or not legally enforceable undertaken between two or more Persons.

Transaction

(In Arabic: تصرف) The tendency of the will to have a specific legal effect, and this effect is represented by the creation of a right that results from it. For example, the contracts concluded with the transfer of ownership of real estate between two parties, as it is a legal act based on the convergence of two wills, and a system that acquires real rights. The same applies to the will, as it is a legal act based on a unilateral will, and it also acquires specific rights.

Transfer Pricing

(In Arabic: تسعير المعاملات) Setting prices for controlled transactions, including -but not limited to- the transfer of goods and services, loans, tangible and intangible assets, and the distribution of expenditures and profits.

Transfer Pricing Policy

(In Arabic:سياسة تسعير المعاملات) The approach taken by Related Persons when determining the price of the product or service.

Underlying Supply of Goods or Services

(In Arabic: توريد رئيسي للبضائع والخدمات) The goods or services supplied by a Seller (Supplier) and ultimately received by the End Customer.

Value-Added Tax

(In Arabic: ضريبة القيمة المضافة) An indirect tax imposed on all goods and services that are bought and sold on a regular and continuous basis by persons subject to tax, with some exceptions. The value added tax is imposed at every stage of production, starting from distribution until the stage of sale to the consumer. VAT is obligatory to every individual or company that practices an economic activity if the value of his annual taxable revenues exceeds 375,000 SAR.

المصطلحات الضريبية