MUSCAT: In a move to combat hidden trade, Ministry of Commerce and Industry has urged companies to provide documentation of their effectiveness in the transfer and sale of shares.
In an online statement put out by the ministry, it said, “Companies must provide documentation of their effectiveness in the transfer and sale of shares in order to reduce hidden trade and the sale of commercial registers.”
The ministry added, “The Ministry revealed a number of commercial registers owners who open more than one registr and sell without doing any business or for the purpose of obtaining manpower license.”
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