Pakistan grants tax neutrality for sukuk deals

September 4, 2016 5:46 AM

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Pakistan's Federal Board of Revenue has granted sukuk transactions similar tax treatment to conventional bonds, the latest government incentive aimed at developing the country's Islamic finance sector.

In a statement late on Saturday, Pakistan's capital market regulator - which recommended the change - described the move as a landmark decision, because previous tax treatments had made sukuk an "unviable" funding option.

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