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Source:
الوطن
7.58m Concealment Fines
Inspection campaigns to combat commercial concealment imposed fines exceeding SAR 7.58 million. A total of 36,404 visits uncovered 1,175 suspected cases of concealment and recorded 135 violations of market regulations. The competent authorities referred 547 violations to the Review Committee and 19 cases to the Public Prosecution, while the Ministry received 3,957 reports of suspected concealment. The law allows exemption from penalties subject to seven conditions. Market regulations also require businesses to meet several obligations, including keeping their commercial registration up to date, opening a bank account, documenting financial transactions, and not allowing a non-Saudi national unrestricted control over the business.
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