Singapore To Introduce New Islamic Finance Tax Laws

Lim Hng Kiang, the Deputy Chairman of the Monetary Authority of Singapore (MAS), and Minister for Trade and Industry, said that Singapore’s Ministry of Finance will issue new income tax regulations for Islamic finance.
He underlined the fact that there was a need to ensure that the legal and regulatory regimes remain robust in ensuring the soundness of Islamic markets and institutions, and yet conducive for Islamic finance to grow at a sustainable rate.

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