Ministry of Commerce identifies 7 types of tasattur activities

Ministry of Commerce identifies 7 types of tasattur activities

Saudi Gazette report RIYADH — The Saudi Ministry of Commerce urged owners of businesses and commercial establishments to take advantage of the extended six-month corrective period for violators of the Anti-Commercial Cover-up Law (tasattur). The ministry identified seven types of tasattur and the penalty for the crime includes a maximum of five years in prison and SR5 million in fine. The ministry said the seven types of tasattur include the non-Saudi worker of the commercial establishment pays its owner a monthly or annual lump sum amount; the non-Saudi worker manages transactions of the establishment’s funds through bank deposits, cash payments or money transfer within the Kingdom and outside; and the non-Saudi worker keeps in his possession blank documents, checks and contracts duly signed by the owner of an establishment. The types of tasattur also include existence of a partnership between the owner of the establishment and non-Saudi worker who does not have an investment license; endorsing a non-Saudi who does not have a foreign investment license, to have a stake in the dividends that are meant to be distributed to the partners of the company and allowing the non-Saudi to determine the mechanism of distribution; the entry of the establishment’s