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Islamic Finance Briefing - Categorized | Bonds (Sukuk), Compliance, Tax, Legal, Regulatory more

S.Korea offers tax waiver to encourage sukuk sales

Posted on 26 August 2009

From Forbes: South Korea plans to offer a tax waiver on foreign investors’ interest income from sukuk issued by its companies to encourage fund raising from Islamic bond markets, the Ministry of Strategy and Finance said on Tuesday.

Foreign nationals are currently exempted from such taxes on investments in foreign currency-denominated bonds issued by South Korean firms, but the rule does not apply to sukuk due to the different structure of Islamic bonds, the ministry said………….Full Article: Source

 
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