Clifford Chance

Hong Kong takes steps towards becoming a centre for Islamic Finance

2 August 2013

Since 2007, Hong Kong has been looking at ways to encourage the development of a sukuk market in Hong Kong, which has historically been limited by the potentially adverse tax treatment of such instruments. On 19 July 2013, the Inland Revenue and Stamp Duty Legislation (Alternative Bond Schemes) (Amendment) Ordinance 2013 was gazetted, conforming the tax treatment for Islamic securities to conventional debt securities.

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