The Hong Kong Government is finalising a bill that will provide a taxation framework for Sukuk, that it hopes to introduce to the Legislative Council in early 2013, the Financial Services & the Treasury Bureau said.
The bureau has released results of consultations on proposed amendments to the Inland Revenue Ordinance and the Stamp Duty Ordinance that aim to promote Islamic finance’s development in Hong Kong. They would provide a taxation framework for Sukuk on par with that for conventional bonds………………………………………..Full Article: Source