04.04.2011 - UK plugs tax loopholes for Islamic mortgages
The UK Treasury is fast-tracking a number of laws in the Finance Bill 2011 to plug several tax avoidance loopholes including those related to high-end stamp duty land tax (SDLT) in commercial property transactions both conventional and alternative (Islamic) real estate transactions. The loophole includes the use of offshore vehicles to avoid paying full stamp duty tax on property transactions, normally in excess of 500,000 pounds up to a few millions of pounds..............................................Full Article: Source
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