The federal government is under pressure to tweak tax incentives that make it easier for the Islamic finance sector to flourish in Australia and allow greater cross-border transactions with Asia.
The Dubai-based global head of Islamic finance for law firm Allen & Overy, Anzal Mohammed, says there’s a growing push to encourage policy makers in Australia to ease regulations on areas such as stamp duty and withholding tax so that people who want to invest in Islamic-compliant funds don’t get hit with unforeseen tax penalties………………………………………..Full Article: Source