Trade debtors are businesses or individuals that owe money to a company for goods or services that have been supplied on credit.
Read MoreA trial balance is a list of a company's accounts and their balances at a specific point in time.
Read MoreThe natural person(s) who ultimately own or control a UAE company — typically any individual holding 25% or more of shares or voting rights.
Read MoreA variable cost is a type of cost that varies in proportion to the volume of goods or services produced.
Read MoreThe formal process of cancelling a UAE business's VAT registration with the FTA when it no longer meets the registration criteria.
Read MoreA category of UAE supplies on which no VAT is charged — and for which input VAT on related costs cannot be reclaimed.
Read MoreA UAE provision allowing two or more related businesses under common control to register as a single VAT entity, filing one combined return.
Read MoreA repayment from the FTA when a business has paid more input VAT than it has collected in output VAT during a return period.
Read MoreThe periodic declaration filed by a UAE VAT-registered business showing total output VAT collected, input VAT paid, and the net amount owed to or refundable from the FTA.
Read MoreA consumption tax introduced in the UAE in January 2018 at a standard rate of 5%. Businesses with taxable supplies exceeding AED 375,000 per annum are required to register for VAT. VAT returns are typically filed quarterly, and late filing incurs a penalty of AED 1,000 for the first offence.
Read MoreA venture capital associate is a professional who works for a venture capital firm, helping to identify and evaluate potential investments in startup companies.
Read MoreA venture capital partner is a professional who works for a venture capital firm, helping to identify and evaluate potential investments in startup companies.
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