Saudi Arabia Steps Up Crackdown On Shadow Economy

To take action against the shadow economy, Saudi has increased determination.

The financial backers are working in the Kingdom are doing as such under the right business plans and with the important licenses. With the presence of an enemy of disguise law to guarantee that.

Al Eqtisadiah reported that the Saudi Arabia kingdom’s commerce ministry referred 446 commercial concealment cases to the Public Prosecution during the first half of this year. To verify their compliance, at the same time, some 16,000 inspections.

While protecting their identity, and it also rewards whistleblowers with up to 30 percent five years in prison for violators. Up to five years in prison for violators and the new legislation includes fines of SR5 million.

The new law to make the necessary changes needed to become compliant and the government in March introduced an option for people in breach. They operate under the rule of the new law or face the legal consequences, the grace period to make such changes.

Further planning for Vision 2030 requires vigilance at the finest. The financial backers are working in the Kingdom are doing as such under the right business plans and with the important licenses. With the presence of an enemy of disguise, law guarantees that.

Al Eqtisadiah reported that the kingdom’s commerce ministry referred 446 commercial concealment cases to the Public Prosecution during the first half of this year. To verify their compliance, at the same time, some 16,000 inspections.

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