UAE Accounting & Tax Glossary

Tax Invoice

A specific VAT document required for all taxable supplies above AED 10,000 in the UAE — containing mandatory information prescribed by FTA regulations.

Tax Registration Number (TRN)

The unique 15-digit identifier issued by the FTA to every VAT-registered business in the UAE.

Trade creditors

Trade creditors are businesses or individuals that a company owes money to for goods or services that have been supplied on credit.

Trade debtors

Trade debtors are businesses or individuals that owe money to a company for goods or services that have been supplied on credit.

Trial balance

A trial balance is a list of a company's accounts and their balances at a specific point in time.

Ultimate Beneficial Owner (UBO)

The natural person(s) who ultimately own or control a UAE company — typically any individual holding 25% or more of shares or voting rights.

Variable cost

A variable cost is a type of cost that varies in proportion to the volume of goods or services produced.

Venture Capital Associate

A venture capital associate is a professional who works for a venture capital firm, helping to identify and evaluate potential investments in startup companies.

Venture Capital Partner

A venture capital partner is a professional who works for a venture capital firm, helping to identify and evaluate potential investments in startup companies.

Venture Capital Principal

A venture capital principal is a professional who works for a venture capital firm, helping to identify and evaluate potential investments in startup companies.

Vesting Acceleration

Vesting acceleration refers to the process of speeding up the vesting schedule of a stock option or other form of equity compensation.

Wage Protection System (WPS)

The UAE Ministry of Human Resources' mandatory electronic salary transfer system requiring mainland employers to pay wages through approved channels on time.

Finances Glossary

Glossary