(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: محاسبة على الأساس النقدي) An alternative method for calculating and reporting VAT based on the payment date for each supply.
(In Arabic: شهادة التسجيل في ضريبة القيمة المضافة) Zakat, Tax, and Customs Authority issues a VAT registration certificate to the taxpayer after processing and approving his application for VAT registration. This certificate includes the name of the taxpayer, his account number (VAT TIN which must be shown in the tax invoices), and the effective date of the registration. Each VAT certificate contains a special number.
(In Arabic: دفاتر تجارية) a set of commercial books that the tax or zakat payer keeps, in which he records all the details of his business.
(In Arabic: مقابل) Everything collected or to be collected by the Taxable Supplier from the Customer or a third party for the Supply of Goods or Services inclusive of the VAT.
(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 a Taxable Supply reducing its value.
(In Arabic: مذكرة مدينة) A commercial document issued by the supplier or the seller to the buyer, as a document that proves the increase in the buyer’s debt due to the seller or the supplier. It is helpful for the purposes of value-added tax, and adjustment.
(In Arabic: فوترة إلكترونية) A procedure aimed at converting the billing process and paper amendments into an electronic process that allows the exchange of invoices and their amendments and processing in an organized electronic format between the seller and the buyer in an integrated electronic format.
(In Arabic: نشاط اقتصادي) This is a broad term referring to the business activities which are – in principle – subject to VAT. This is defined in the Unified VAT agreement as an activity that is conducted in an ongoing and regular manner including commercial, industrial, agricultural or professional activities or Services or any use of material or immaterial property and any other similar activity.
(In Arabic: فاتورة إلكترونية) An invoice that is issued, saved, and modified in an electronic form organized through an electronic system, and contains all the requirements of the tax invoice. A handwritten or scanned invoice is not considered an electronic invoice.