Pakistan - The taxation of Islamic financial instruments
- H. Bukhari; I. Haq
- Asia-Pacific Tax Bulletin, 2009 (Volume 15), No 3
- 1 June 2009
An article on the current position of Islamic finance in Pakistan in light of the growing industry internationally. The authors discuss the various modes of Islamic finance in Pakistan pursuant to the sharia principle and their related tax treatment. The article also covers the tax and regulatory uncertainties faced by the industry, its similarities in practice with conventional banking techniques and measures that need to be taken to further encourage the growth of this industry in Pakistan.