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Luxembourg tax authorities issues guidelines on Islamic finance

Luxembourg tax authorities issues guidelines on Islamic finance
31/01/2010

On 12 January 2010, the Luxembourg tax authorities issued a circular laying down guidelines for the tax treatment of several Islamic financial instruments. The circular focuses mainly on the tax treatment of murabaha and sukuk but also discusses a number of other Shariah-compliant instruments, such as musharaka, mudaraba, ijara, ijara-wa-Iqtina and istisna.

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