Business consultant Dr Firos Aryanthodika said that the same consideration that people give to their health should be given to the assessment of the financial status of their establishments and businesses. He also advised that for the further growth of any business, it is very important to maintain a book of account which accurately describes the income and expenditure figures of the day-to-day transactions. He was speaking at the Indian Investors Meet organized by IIBIS and United Delighted Company.
Many foreigners have taken advantage of the opportunities provided by the Saudi government to start businesses. According to the government’s new regulation, foreign investors have to pay 2.5 percent zakat and 20 percent tax to the government. There was no tax system called VAT in Saudi earlier. As there was no need to record the tax figures on purchases and sales, there was no need for a book of account at that time. Because of this he emphasized the importance of maintain a very accurate accounts management system day to day.
Amir Abdurrahman Turki, Head of Finance and Planning, inaugurated the ceremony. Senior Director Ali Zainuddin presided over the meeting. Irfan Yusuf, President, Jeddah Chapter, Association of Chartered Accountants of India, led the interaction section and answered questions from entrepreneurs.
The event was organized as part of creating awareness among Indian entrepreneurs by IIBS, which operates in the fields of Audit, Zakat, Tax, VAT, Tax and Return Tax Filing, Business Consulting, etc.
വാര്ത്തകള് editor@sauditimesonline.com എന്ന വിലാസത്തില് ഇമെയില് ചെയ്യുക. വാര്ത്തകള് അയക്കുന്നവര് പേരും മൊബൈല് നമ്പരും എഴുതാന് മറക്കരുത്.
