First: General Provisions
1- The words and phrases used in this Regulation shall have the meanings set forth in Article (One) of the Anti-Concealment Law issued by Royal Decree No. (M/4) dated 1442/01/01 AH.
2- This Regulation aims to provide an opportunity for Saudi and non-Saudi practitioners of economic activities who wish to correct their status in accordance with the provision of Clause (Second) of Royal Decree No. (M/4) dated 1/1/1442 AH, to define the options and mechanisms for correcting status, and to clarify the procedures for reviewing correction requests.
3- Anyone who submits a request to the Ministry to correct their status—through one of the options outlined in Clause (Second) of this Regulation—before the date 15/1/1443 AH, shall be exempted from the penalties stipulated in the Anti-Concealment Law issued by Royal Decree No. (M/22) dated 4/5/1425 AH, and the Anti-Concealment Law issued by Royal Decree No. (M/4) dated 1/1/1442 AH, as well as from any other penalties resulting from the crime and its proceeds subject to correction, and from paying income tax retroactively.
4- This Regulation does not prejudice the private rights arising from transactions concluded by Saudis or non-Saudis.
