LEGAL DEVELOPMENTS
Government to implement further anti-concealment (Tassatur)
measures
The MOCI is finalizing a plan to combat the practice of
tasattur. Tasattur is the colloquial name for the practice by
which unlicensed foreign investors carry out business in the name
of Saudi nationals in return for payment, and is in violation of
the Kingdom's Anti-Concealment Law. Sources report that the
plan should be announced within the month and will be implemented
before the end of the year. The plan involves the introduction of
points-of-sale, and will be executed in phases, beginning with
larger businesses and progressing to smaller ones. According to
sources, the bulk of tasattur takes place in the retail sector,
followed by the contracting sector. It is not clear how the
introduction of points-of-sale are intended to combat tasattur.
Presumably, the government may utilize records from points-of-sale
to monitor financial activity, such as siphoning off fees
