WWW.REPUBLIKA.CO.ID, JAKARTA - Islamic banking is predicted to face three challenges ahead in the next two years. They are the transition of financial supervisory to Financial Service Authority (OJK), ASEAN economic community, and the increasing of human resources (SDI) needs.
OJK presents as authority institution supervising all financial institution, to replace of Bank Indonesia (BI) and Capital Market and Financial Institutions Supervisory Agency (Bapepam-LK) roles. OJK will supervise the management of 8.000-9.000 trillion IDR fund. (source)
Showing posts with label rifai. Show all posts
Showing posts with label rifai. Show all posts
Thursday, March 22, 2012
Tuesday, January 17, 2012
INDONESIA - REGULATIONS - Sharia Banks Still Need Tax Incentives
REPUBLIKA.CO.ID, JAKARTA - Islamic banks still need tax incentives sector. Elimination of double taxation on Islamic bank financing products considered not enough to encourage the growth of Islamic financial services industry.
Ministry of Finance has issued rules earlier that equate the imposition of income tax and Ijarah Ijarah financing Muntahiyah Bittamlik (IMBT) with a conventional bank loan products. The imposition of these taxes will remove double taxation that previously imposed for any rental activity. Elimination of double taxation is assessed Islamic economists, Veitzhal Rifai, only a small part of efforts to improve the economy of the Islamic banking sector. (source)
Ministry of Finance has issued rules earlier that equate the imposition of income tax and Ijarah Ijarah financing Muntahiyah Bittamlik (IMBT) with a conventional bank loan products. The imposition of these taxes will remove double taxation that previously imposed for any rental activity. Elimination of double taxation is assessed Islamic economists, Veitzhal Rifai, only a small part of efforts to improve the economy of the Islamic banking sector. (source)
Subscribe to:
Posts (Atom)