1 Day
Source:
صدى البلد
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Shariah-compliant Taxes with 20% Return
Sukuk (Islamic bonds) have been activated, although they were included in the law but not used previously, with the aim of providing facilitations for taxpayers. The sukuk have a one-year term and are offered to all individuals and companies. They are financed by taxpayers and deducted from their future tax dues, offering a yield of approximately 20% annually. This is an optional option that helps reduce the debt bill and lessen reliance on external loans. Sukuk are considered a means to boost revenues, decrease the state's debt burden, and can be used later for tax settlements, all in compliance with Sharia law.
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