GENERAL DIRECTORATE OF STATE OWNED CORPORATIONS

Directorate of Finance and Accounting

Key Responsibilities

1. Budget Planning and Management

The Finance and Accounting Directorate prepares annual and medium-term budgets, assesses departmental financial needs, and ensures the efficient allocation and utilization of financial resources.

2. Revenue and Expenditure Management

The directorate records and monitors all revenues and expenditures, ensuring accurate accounting practices and compliance with financial regulations.

3. Financial Reporting and Analysis

It prepares financial reports and analyses to support management decisions and ensure transparency in financial operations.

Core Services

1. Payroll Administration

The Payroll Administration service is responsible for the accurate calculation and timely processing of employee salaries across the organization. It ensures that all monthly wages, overtime payments, allowances, and other financial entitlements are properly calculated in accordance with organizational policies and approved regulations.
This service also manages employee benefits such as bonuses, deductions, and incentives while maintaining complete and secure payroll records. It ensures transparency, accuracy, and consistency in all payroll-related processes to support employee satisfaction and financial discipline within the organization.

2. Tax Calculation

The Tax Calculation service ensures full compliance with national tax laws and financial regulations. It is responsible for calculating applicable taxes on salaries, contracts, and organizational financial activities in accordance with legal requirements.
This service prepares detailed tax reports for internal management and external regulatory authorities, ensuring timely submission and accuracy of all financial obligations. It also monitors tax-related compliance risks and ensures that the organization operates within the approved legal and financial framework.

3. Financial Advisory

The Financial Advisory service provides strategic guidance to support effective financial planning and decision-making within the organization. It assists in preparing budget plans, optimizing resource allocation, and improving overall financial efficiency.
This service also recommends cost-saving strategies, identifies financial risks, and provides analytical insights to support sustainable financial management. Its goal is to strengthen financial stability, improve performance, and ensure long-term economic efficiency across all departments.