(In Arabic: سجلات محاسبية) All documents, books, and accounting entries that contribute to preparing the financial statements including records of assets, liabilities, and supporting documents, such as checks, payment receipts, receipts, and invoices.
(In Arabic: نظام محاسبة) is a system a company uses to manage financial records and operations, and this often includes tracking revenues, expenses, and other financial activities such as accounts for assets, liabilities, and equity. The accounting system usually includes a system for recording financial transactions, financial account management systems, a system for managing customer and supplier accounts, a system for preparing reports and financial statements, and a system for financial analysis and decision support.
(In Arabic: نسبة الاستخدام الفعلي الخاضع للضريبة) It refers to the taxable usage of a Capital Asset during a twelve-month period, as a portion of total usage during that twelve-month period. This percentage is compared to the Initial Recovery Percentage to determine if an adjustment is required.
(In Arabic: فترة التعديل) The period in which the Taxable Person shall adjust previously deducted Input Tax in relation to a Capital Asset in cases where the Taxable Person’s Input Tax decreases or increases as a result of a change in the way the Taxable Person uses the Asset, or a change in the VAT status of such use.
(In Arabic: اجراءات الفحص والربط) The tax authority right to conduct assessment and examination procedures to make sure that the taxpayer has fulfilled the obligations imposed on him by the tax law, and to correct or amend the tax indicated in his declaration to make it compatible with the provisions of the law. The taxpayer is obligated to cooperate with the Authority inspectors by providing them with all information and documents upon their request. Inspectors have the right to make a tax assessment if the taxpayer does not submit his declaration.