The Grace Period For Correcting 'tasattur' Violations Has Ended
Category: Saudi Arabia

As of Wednesday, February 16, the grace period for correcting tasattur violations under the National Program to Combat Commercial Concealment (tasattur) under the Ministry of Commerce had ended.

Those establishments that took advantage of the corrective period will continue to receive facilities through the government agencies participating in the program.

Under the executive regulation, violators of the anti-cover-up system gave the applicant a period of 90 days from when they received notification that their application was accepted to implement the specified correction procedures.

Establishments violating the program were warned of deterrent measures such as imprisonment of up to five years, fines of up to SR5 million or both, and confiscation of their assets and funds.

For those seeking corrective measures, the program provided several options, including forming a partnership with a non-citizen or registering ownership of a facility in a non-citizen's name or continuing to engage in economic activity by introducing a new partner to the facility.

As a form of tasattur (or cover-up), Saudi citizens allow a non-Saudi to engage in commercial or industrial activity on their behalf in exchange for a set payment.

 

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17 Feb, 2022 0 833
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