Commerce Ministry renews its call for violators of the anti-cover-up system to take advantage of the corrective period within 3 months before it ends...

Commerce Ministry renews its call for violators of the anti-cover-up system to take advantage of the corrective period within 3 months before it ends... 

Shawwal 14 1442

The Ministry of Commerce and the National Anti-Concealment Program renewed the call for violators of the anti-concealment system to take advantage of the corrective period and its benefits three months before its end, which will continue until Muharram 15, 1443 AH corresponding to August 23, 2021 AD.

The corrective period, which started at the end of last February, provides multiple options for the violator of the provisions of the system, whether he is: (Saudi or non-Saudi) by exempting those who apply to correct their status; From the penalties prescribed in the system and their consequences, and from the retroactive payment of income tax.

The ministry confirmed the intensification of field efforts with the participation of government agencies partner in the national program to combat cover-up to control violations, and that he will not be exempted from the heavy penalties stipulated by the system, up to 5 years imprisonment and a fine of up to 5 million riyals, who are caught for committing a crime or violating the system "before applying." requesting correction of his situation,” or who was referred to the Public Prosecution or the competent court.

The ministry stressed the concerted government efforts to combat commercial cover-up because of its negative effects and damages, and leads to economic crimes, such as money laundering, commercial fraud and the absence of fair competition.

Comments

Post a Comment

Popular posts from this blog

Saudi Arabia raises white land tax to 10%, introduces annual levy on vacant properties

  May 01, 2025 The amendments unify the tax application stages, with the annual tax now covering individual or combined landholdings of 5,000 square meters or more within designated urban zones. Saudi Gazette report RIYADH —  Saudi Arabia has approved amendments to its White Land Tax Law, raising the annual levy on undeveloped land from 2.5% to 10% of its value and introducing, for the first time, an annual tax on long-vacant properties without justified use. The changes, passed during Tuesday’s Cabinet session, are aimed at boosting property development and increasing housing supply, as the government works to address rising real estate prices. The Ministry of Municipal and Rural Affairs and Housing announced plans to offer housing units across various regions in partnership with private developers, priced between SR250,000 and SR1.2 million. The initiative targets raising Saudi homeownership to 66% this year, according to Minister Majed Al-Hogail during a recent government p...
Read more

Commerce Ministry unveils updated digital commercial registration with QR code access

May 25, 2025 Commerce Ministry unveils updated digital commercial registration with QR code access Saudi Gazette report RIYADH — The Ministry of Commerce has introduced a redesigned digital commercial registration (CR) certificate for businesses in Saudi Arabia, featuring a more streamlined format and improved data accessibility. The updated CR now consists of a single-page electronic certificate containing all relevant business information. Users can instantly access detailed data by scanning a QR code displayed on the left side of the certificate. This update coincides with the implementation of the new Commercial Registry Law and its executive regulations. Among the key changes is the transition to a unified national CR per establishment, consolidating all activities under one license regardless of geographic location within the Kingdom. The revised system also eliminates the traditional expiration date for the CR. Instead, businesses are now required to electronically confirm their...
Read more

MHRSD: Minimum 10-day paid leave mandatory for employees performing Hajj for first time

 May 01, 2025 The Ministry of Human Resources and Social Development clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it. The Ministry of Human Resources and Social Development clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it. Saudi Gazette report RIYADH — The Ministry of Human Resources and Social Development emphasized that Hajj leave must not be less than 10 days and not more than 15 days, including Eid al-Adha holiday, for those employees performing the annual pilgrimage of Hajj for the first time. In a statement marking the beginning of the Hajj season, the ministry clarified that the Labor Law allows employees to avail of paid leave to perform Hajj once in their service period if they have not previously performed it, provided they have completed at least two consecutive...
Read more