Anti-commercial cover-up program to strike violators with ‘iron fist’ after corrective period

28/09/2021 Argaam

Logo of the National Program for Combating Commercial Concealment


The National Program for Combating Commercial Concealment said it will strike violators of the anti-commercial concealment law with an “iron fist” after the end of the corrective period. Penalties, including up to five-year imprisonment and/or fines of up to SAR 5 million, along with confiscation of illegal gains of criminals, will be imposed.

 

The program affirmed handling violators’ corrective applications, noting that the corrective period is a precious opportunity for violators to legalize their status and benefit from the available privileges.

 

In a statement issued today, Sept. 28, the program added that violations after the corrective period will be monitored by various, innovative tools, such as artificial intelligence (AI) to analyze data and seize the violators.

 

The program urged those wishing to legalize their status to apply to the Ministry of Commerce for correction, and benefit from exemption from penalties and retroactive income tax payments, in order to continue their business legally.

 

In February, the National Program for Combating Commercial Concealment said that the corrective period granted to violators of the anti-cover-up law will last from Feb. 28, 2021 and to Aug. 23. However, it was extended for additional six months until Feb. 16, 2022.

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