A library that doesn’t just meet your needs — it anticipates them

The Promise to Issue Shares Template is a bilingual legal document designed to formalize an agreement between a company and an investor regarding the issuance of shares at a future date. The document outlines terms related to the issuance of conversion shares, including the company’s obligations, the exercise of rights by the purchaser, and conditions under which shares will be issued. Key provisions include definitions, the process for converting shares, and clauses covering corporate transactions, maturity dates, and governing law. The template is intended for use in equity financing and is compliant with Saudi Arabian law.

The OQAL Note Template is a bilingual legal document outlining the terms for issuing a Shari'ah-compliant simple security (OQAL Note) between a company and an investor. It details the rights and obligations of both parties, including the purchase price, issuance date, and terms related to equity financing, conversion, and maturity. The document also defines key terms such as "Corporate Transaction" and "Next Equity Financing," and includes provisions for representations, warranties, and investor rights. It is designed for use in equity financing agreements, ensuring compliance with Saudi law and Islamic finance principles.

The Withholding Tax Guide for KSA is an informative document designed to assist businesses in understanding the withholding tax system in Saudi Arabia. It covers key aspects such as the applicable types of payments subject to withholding tax, the role of the withholding agent, payment and filing requirements, and the impact of double taxation treaties. The guide provides a step-by-step process for identifying payments, calculating tax, filing returns, and making payments to the Zakat, Tax, and Customs Authority (ZATCA). It also highlights the importance of record-keeping and outlines penalties for non-compliance. An example scenario is included for practical understanding.

The "Income Tax Guide" provides a step-by-step approach for startups in Saudi Arabia to navigate income tax obligations. This guide covers essential topics such as determining tax residency, calculating taxable income, preparing financial statements, and filing the income tax return through the ZATCA portal. It also highlights key compliance requirements, payment deadlines, and penalties for non-compliance. This guide ensures you meet your tax obligations efficiently and avoid costly penalties.

Understanding Zakat obligations is crucial for companies in Saudi Arabia and the GCC. This comprehensive guide simplifies the process by outlining who is required to pay Zakat, how to calculate it, and steps for filing through the ZATCA portal. Learn how to maintain compliance, avoid penalties, and ensure accurate Zakat payments. This guide helps navigate financial responsibilities efficiently.

The "Invoicing" guide provides a comprehensive overview of compliant invoicing practices in Saudi Arabia, focusing on the commitment to Zakat, Tax, and Customs Authority (ZATCA) regulations. This guide covers the mandatory use of electronic invoicing (e-invoicing), key components of a compliant invoice, VAT requirements, and how to issue credit or debit notes. It also emphasizes the importance of maintaining records, using compliant software, and staying updated on regulations to avoid penalties. Well-suited for startups ensuring VAT compliance in KSA.

The "Financial Statements" guide offers a detailed step-by-step process for preparing financial statements in Saudi Arabia. This guide covers everything from gathering financial data to recording transactions, reconciling accounts, and preparing key financial reports like the income statement, balance sheet, and cash flow statement. It emphasizes compliance and the importance of internal reviews, external audits, and proper submission to authorities. Using this guide will help you streamline your financial reporting and ensure regulatory compliance.

The "Chart of Accounts" guide on the Blossom Open Library website offers a comprehensive overview tailored for startups in Saudi Arabia. This guide explains the importance of a COA in organizing and categorizing a business’s financial transactions, ensuring consistent financial reporting and analysis. It covers key categories like assets, liabilities, equity, revenues, and expenses. And it highlights the benefits of customizing your COA to fit your business needs. Explore our template to streamline your accounting processes and maintain compliance with local regulations.