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Australia: Government assess tax reforms to promote Islamic finance

Posted on 17 April 2013

The Board of Taxation has submitted its final report into Australia’s tax laws to ensure they do not inhibit the provision of Islamic finance, banking and insurance products, Parliamentary Secretary Bernie Ripoll has told the Amanie Australia Islamic Finance Forum in Melbourne.
The report was based on recommendations in the 2010 Johnson Report which offered policy options to better position Australia as a financial centre. It was about ensuring a “fair and level playing field” according to Ripoll, and to ensure that Islamic financial products had parity of tax treatment with conventional products…………………………………….Full Article: Source

 
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