Taxation of Islamic banking transactions

Authors

  • Rusell Stanley Geronimo SyCip Salazar Hernandez & Gatmaitan, SyCipLaw Center

DOI:

https://doi.org/10.46282/blr.2018.2.2.110

Keywords:

Islamic banking, murabahah, tawarruq, ijarah, istisna, salam, musharakah, mudaraba, sukuk, takaful

Abstract

The paper examines the juridical character of eight common Islamic banking transactions: murabahah, tawarruq, ijarah, istisna, salam, musharakah or mudaraba, sukuk, and takaful. It then compares each Islamic banking product with an equivalent conventional banking product, examines their differences in terms of transaction design, and shows whether these contractual differences result in differential tax treatment.

References

HANIF, M.: Differences and Similarities in Islamic and Conventional Banking. In: International Journal of Business and Social Sciences, Vol. 2, 2014, No. 2.

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HANIF, M.: Introduction to Islamic Banking (June 9, 2012). Available at: https://ssrn.com/abstract=2223226 or http://dx.doi.org/10.2139/ssrn.2223226 (accessed on 5th November 2018). DOI: https://doi.org/10.2139/ssrn.2223226

ZAR ROKH, E.: Islamic Financing Arrangements Used in Islamic Banking (April 2, 2007). Available at: https://ssrn.com/abstract=978911 or https://doi.org/10.2139/ssrn.978911 (accessed on 5 November 2018). DOI: https://doi.org/10.2139/ssrn.978911

SAFARI, M.: Are Sukuk Securities the Same as Conventional Bonds? In: Proceedings of Foundation of Islamic Finance Series, Second Conference, Kuala Lumpur, Malaysia, March 8-10. Kuala Lumpur, 2011.

SIDDIQI, Y. A.: Introducing Islamic Banking in New Markets (May 24, 2017). Available at: https://ssrn.com/abstract=2973166 or http://dx.doi.org/10.2139/ssrn.2973166 (accessed on 5th November 2018). DOI: https://doi.org/10.2139/ssrn.2973166

SOLÉ, J. A.: Introducing Islamic Banks into Coventional Banking Systems. IMF Working Papers, 2007. https://doi.org/10.5089/9781451867398.001 DOI: https://doi.org/10.5089/9781451867398.001

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Published

31-12-2018

How to Cite

Geronimo, R. (2018). Taxation of Islamic banking transactions. Bratislava Law Review, 2(2), 79–90. https://doi.org/10.46282/blr.2018.2.2.110

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