MCI Is Granting 30% Of The Total Fine, Relevant To Commercial Concealment, To The Informer, Whether A Citizen Or A Resident

20 Feb 2019

The Ministry of Commerce and Investment has called on all citizens and residents in all regions of the Kingdom to report cases of commercial concealment through MCI Consumer Call Center (1900) or through the application of a Commercial Violation Report, or via the Ministry's website.

The Ministry explained that the financial reward granted to the informers, whether citizens or residents, related to the cases of commercial concealment, would reach up to 30% of the total value of the sentenced fines after collection. This fine is granted immediately after providing evidences to prove the commercial cover-up. Notably, the fine imposed on those involved in commercial concealment reaches up to one million riyals, as per the Anti-Commercial Concealment Law.

It is worth mentioning that the Royal Supreme Authority approved earlier this week to implement the recommendations of the National Program for Combating the Commercial Concealment, which involves ten government agencies. This program aims to address and combat commercial concealment in all sectors, besides developing relevant regulations and legislations, also stimulating e-commerce and using technical solutions. This program aims as well at regulating and organizing the financial transactions to eliminate transferring of money abroad, as well as enhancing development in the private sector, also creating attractive jobs for Saudis and encouraging them to invest in various trade activities, more over finding solutions to the problem of illegal ownership of foreigners in the private sector.

This is part of the efforts rendered by the authorities participating in the National Program for Combating the Commercial Concealment. This program aims at eliminating the phenomenon of commercial concealment in all business sectors, and creating a regular trading environment, free from any violations, besides enabling the citizens to practice business safely.

Last Modified 28 Mar 2019