Browsing by Author "Lall, Rabia D"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    Open Access
    Islamic finance versus conventional finance and the taxation consequences.
    (2013) Lall, Rabia D; Roeleveld, Jennifer
    The focus of this research paper is to discuss the underlying principles of Islamic finance and its tax implications for investors and financial institutions. The nature of Islamic financial products is compared to its conventional financial counterpart to identify whether differences exist between Islamic and conventional finance from a tax perspective. The proposed changes to the South African Income Tax Act No. 58 of 1962 relating to Islamic finance contain deeming provisions to provide tax neutrality between Islamic and conventional finance. It appears that certain international tax issues for Islamic finance have not yet been addressed by the proposed changes and will have to be considered for the tax neutrality to be achieved.