RIYADH — The National Program for Combating Commercial Concealment under the Ministry of Commerce said on Tuesday that stringent punitive measures would be taken against violators of the Anti-Commercial Concealment (tasattur) Law after the expiry of the extended corrective period deadline on Feb. 16, 2022. All the innovative methods and means of new technologies based on artificial intelligence (AI) will be employed to detect the violations and catch the violators, it warned. The Program urged owners of all commercial establishments and businesses to take advantage of the newly extended six-month corrective period and benefit from the privileges. “The process of correcting the status of commercial establishments is going on well in line with the requests received from various firms. The corrective period is the precious opportunity for the violators to benefit from it,” the Program said in a statement. The Program explained that the oversight mechanisms will be carried out after the end of the corrective period by using different tools and means, and innovative methods that rely on artificial intelligence in analyzing data and catching violators. After this period, an iron fist will be used and deterrent penalties will be applied against violators,” it said while emphasizing that the penalties include maximum imprisonment for 5 years or a fine of up to SR5 million or of both, and confiscation of illegal assets and funds of those involved in the cover-up crime. The Program urged all those wishing to correct their status to take advantage of this opportunity by applying to the Ministry of Commerce with a request for correction, and to benefit from the advantages approved by the authorities. It includes exemption from penalties prescribed in the law and their consequences; exemption from paying income tax retroactively; and ensuring the practice of economic activities systematically. The Program clarified that there are six correction options specified in the regulations of the Anti-Concealment Law. These include partnership between Saudi and non-Saudi in the firm; registration of the firm in the name of a non-Saudi; the Saudi continuing to engage in economic activity by introducing a new partner in the firm; Saudi’s disposal of the firm; the non-Saudi obtaining the Premium Residency; and the non-Saudi’s permanent departure from the Kingdom. Correction steps are available via multiple options through the website of the Ministry of Commerce or through business centers and branches of the ministry in all regions of the Kingdom, the Program statement added.