Tape:
The Ministry of Commerce expects 200,000 establishments to be subject to commercial concealment system, including 86,000 establishments in the contracting sector, 84,000 establishments in the retail sector, while the number of other sectors amounted to 30,000 establishments.
Mohammed Alalkami: Combating commercial concealment supports the economy, nationalizes professions and reduces the level of unemployment
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Hazem Al-Zahami: Concealment helped to create informal schemes and sell them to foreign-owned offices under Saudi names
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Mohammed Al-Khashan: Electronic invoicing system will greatly facilitate drying up the sources of cover-up by controlling sales and purchases
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Abdullah Abulkhair: We thank the state for applying the deterrent penalties stipulated in the Commercial Concealment Law
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Private property
From the principle of transparency and participation and the desire to involve the private sector, interested parties and the public in the preparation of draft commercial and investment regulations and legislation in the Kingdom, Amlak Real Estate shared the opinions of some of the owners of real estate offices about the draft system to combat commercial concealment and the consequences of concealment that will negatively affect the economy of the country, especially since the deadline for disclosure and reporting will end on February 16."
Alalkami: Commercial concealment is a heinous crime
In the beginning, Mohammed Ali Al-Alkami, founder of Al-Alkami Real Estate Office in the Western Region, spoke, stressing that commercial concealment is a heinous crime and cannot be approved because it contradicts the right decisions taken by our wise government to prevent the spread of this disease, and the owners of companies and institutions as well as offices must cooperate with the state and not compromise on this matter.We all know that the interest of the homeland is above any other interest, so we must enjoy the blessings given to us by God and in accordance with the regulations, especially since God has given us a wise leadership, supported by God, and it is our duty to help it implement its policies in raising and developing the economy, localizing professions and reducing the level of unemployment in society, otherwise there will be the opposite of what has been said.
Otherwise, there will be the opposite of what has been said.
Alzhami: Securing Saudi replacements
For his part, Hazem Mesfer Al-Zahami, founder of Al-Zahami Office for Real Estate Investments, regretted that the citizen does not take advantage of investment opportunities and gives them to others, and said it is not reasonable for the citizen to sell his country and his honesty, stressing that the cover-up is ”destruction" of the economy and security and has many consequences.Al-Zahami warned of the types of cover-up, such as the foreigner using the name of the Saudi for himself, and exploiting the permits and licenses granted to Saudis for himself, whether for a fee or not, which resulted in the spread of unemployment and the smuggling of capital abroad, which exacerbates crime.
Al-Zahami warned against the types of cover-up. Al-Zahami gave an example of the incident of non-Saudis establishing random plans and selling them to themselves, at that time most real estate offices were owned by foreigners and in the names of Saudis, indicating that the aim of the system is not to punish, but to secure the alternative from Saudis through localization of professions and intensifying the qualification of national cadres through training them and increasing incentives that attract Saudis.
Al-Zahami gave an example of the incident of non-Saudis establishing random plans and selling them to themselves.
Khashan: Eliminating manipulation and commercial fraud
<Mohammed Al-Khashan, director of Al-Subaie Real Estate Office, pointed out that the implementation of the electronic invoice will dry up the sources of commercial concealment and will greatly limit its hidden activities, and it will greatly eliminate manipulation and combat commercial fraud, as the Zakat, Tax and Customs Authority's implementation of ”electronic invoicing" will greatly facilitate the monitoring of the private sector channels. The application of the Zakat, Tax and Customs Authority to "e-invoicing" will greatly facilitate the monitoring of private sector channels by controlling sales and purchases, and monitoring the movement of import and export of goods and commodities, especially in some suspected small and medium enterprises, which represent a large percentage of commercial cover-up operations, which are carried out with the help of some weak-minded citizens, knowing that the end of the deadline is a few days away, after it was extended for an additional 6 months.
Aboulekhir: AI will catch violators
<Abdullah Faisal Abu Al-Khair, a real estate expert, praised the efforts of the National Program to Combat Commercial Concealment, pointing out that after the end of the corrective deadline for violators of the anti-cover-up system, we must thank the state for applying the deterrent penalties stipulated in the anti-cover-up law, in which the penalty is up to 5 years in prison, or a fine of up to 5 million riyals or both, in addition to confiscating the assets and funds for those who commit the crime of cover-up, which is a major crime against the country and the citizen: The concealers should fully realize that the control mechanisms after the end of the corrective period will follow new methods based on artificial intelligence in analyzing data, which greatly facilitates the detection of violators.
