Turkey turns to Sukuk after changes in tax laws
Islamic bond (sukuk) sales from Turkey are picking up pace after the government changed its tax law.
The government passed a law in February reducing the withholding tax on sukuk to 10 percent and exempted sales from value-added, stamp and corporate taxes.
Legislation two months later exempted sukuk certificates with a minimum tenure of five years from taxes on revenue.
http://www.saudigazette.com.sa/index.cfm?method=home.regcon&contentID=20111105111695
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