Dedicated searches generally find a decreasing fraction of obscured Active Galactic Nuclei (AGN) with increasing AGN luminosity. This has often been interpreted as evidence for a decrease of the covering factor of the AGN torus with increasing luminosity, the so-called receding torus models. Using a complete flux-limited X-ray selected sample of 199 AGN, from the Bright Ultra-hard XMM-Newton Survey, we determine the intrinsic fraction of optical type-2 AGN at 0.05$leq$z$leq$1 as a function of rest-frame 2-10 keV X-ray luminosity from 10$^{42}$ to 10$^{45}$ erg/s. We use the distributions of covering factors of AGN tori derived from CLUMPY torus models. Since these distributions combined over the total AGN population need to match the intrinsic type-2 AGN fraction, we reveal a population of X-ray undetected objects with high-covering factor tori, which are increasingly numerous at higher AGN luminosities. When these missing objects are included, we find that Compton-thick AGN account at most for 37$_{-10}^{+9}$% of the total population. The intrinsic type-2 AGN fraction is 58$pm$4% and has a weak, non-significant (less than 2$sigma$) luminosity dependence. This contradicts the results generally reported by AGN surveys, and the expectations from receding torus models. Our findings imply that the majority of luminous rapidly-accreting supermassive black holes at z<1 reside in highly-obscured nuclear environments but most of them are so deeply embedded that they have so far escaped detection in X-rays in <10 keV wide-area surveys.