Business document glossary
GCC business document glossary
7+ tax, legal, HR and finance terms used across invoices, contracts and certificates in the UAE, Saudi Arabia, Qatar, Oman, Kuwait, Bahrain and Iraq. Search or jump by letter.
F
- Force majeure
- A clause excusing performance when extraordinary events (natural disaster, war, pandemic) prevent parties from meeting obligations. Standard in GCC commercial contracts.
- Free zone entity
- A company licensed by a UAE free zone (DMCC, IFZA, JAFZA, DIFC, ADGM, RAKEZ, etc.), enjoying 100% foreign ownership and — under specific conditions — 0% corporate tax on qualifying income.
L
- LPO / PO
- Local Purchase Order (LPO) or Purchase Order (PO) — the buyer's formal commitment to purchase goods or services from a supplier, referenced on the matching invoice.
M
- MoFA attestation
- Legalisation by the UAE Ministry of Foreign Affairs — required for many commercial documents before they can be used abroad or in front of embassies.
R
- Reverse charge
- A VAT mechanism where the buyer (not the seller) accounts for VAT — common on cross-border services into the UAE and KSA.
T
- TRN (Tax Registration Number)
- The 15-digit number issued by the UAE Federal Tax Authority to every VAT-registered business. Required on tax invoices and other financial documents.
Z
- ZATCA / Fatoora
- The Saudi Zakat, Tax and Customs Authority and its e-invoicing platform, Fatoora. Governs VAT invoicing across KSA and mandates QR codes and cryptographic stamps.