Tax Accounting
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1
An introduction to tax and tax accounting
Before calculations and returns comes the vocabulary: what is a tax? What kinds are there? How does it differ from zakat? And who is subject to which?
9 min read -
2
Value added tax: the concepts
A tax levied on the value added at every stage of the supply chain, and ultimately borne by the final consumer alone.
10 min read -
3
VAT in practice
From the invoice to the return: how the tax is computed, when a deduction is allowed, and what makes your invoice acceptable under the law.
11 min read -
4
Withholding tax and income tax
When you pay a party outside the Kingdom, you may be obliged to withhold part of the amount and remit it to the Authority. And when a business earns profit, the treatment is split between zakat and income tax.
10 min read -
5
Tax compliance and managing its risks
Compliance does not begin when the return is filled in; it begins with the first entry in the books. Anyone who controls the daily cycle has nothing to fear from an audit.
10 min read