Alqanoni

Anti Concealment Law

Art. 12
Status unknownSaudi ArabiaRegulation

Issued by Ministry of Investment (misa.gov.sa)

1. Conviction for the offense provided for in Article 3(a) of this Law shall include the following: a) Dissolving the entity subject of the offense, revoking the license or approval issued to practice the activity, and revoking the commercial registration of the convict, unless the criminal court decides otherwise. b) Prohibiting the convict from practicing the economic activity subject of the offense and any other commercial activity for a period of five years commencing on the date the judgment becomes final. 2. Persons convicted of committing any of the offenses provided for in Article 3(a) and (b) of this Law shall jointly pay Zakat, taxes, fees, and any other obligation required from the entity. 3. The competent authority shall provide a copy of the judgment rendered regarding any of the offenses provided for in this Law to the Ministry for legal action. 4. The competent authority shall provide a copy of the judgment rendered against the persons committing any of the offenses provided for in Article 3(a) and (b) of this Law to the General Authority of Zakat and Tax for legal action.

The Arabic text is the legally binding version. The English translation is provided for guidance only.

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