Taxation Of Sukuk In Turkey: As An Alternative Financial Product
Keywords:
Islamic Financial Products, Sukuk, Taxation of Sukuk, Sukuk in TurkeyAbstract
The markets such as capital markets, financial markets, commodity markets, it creates a domino effect and creates a great impact on the economy. After giving information about the improvement of Islamic finance in Turkey, it describes the kinds of sukuk being
implemented in Turkey. As a core study, taxation of sukuk in Turkey and sukuk in Turkish tax system are examined specifically. The objective of this paper is to explain the tax advantages and disadvantages on the products offered by the system to those who
want to invest in the alternative finance system or evaluate their savings. In this study, Turkish tax laws were used as the primary source, and the books, theses, articles and conference texts written on this subject were used as the secondary source. This study
includes the review of the written works, statistics, documents, laws, practices and works of related international institutions, and open sources of related national institutions. Finally, in this study, recommendations for the necessary regulations for the growth of
the Islamic finance sector in Turkey and the results obtained from the study are given.
References
AAOIFI. (2000). Investment Sukuk (Issue 17).
AAOIFI. (2003). Definition of Sukuk.
Affandi, A., & Astuti, D. P. (2013). Dynamic model of Ibn Khaldun theory on poverty. Humanomics, 29(2), 136–160. https://doi.org/10.1108/08288661311319193
Affandi, A., & Khanifa, N. K. (2022). Konsep Harta: Penentuan Keuntungan Green Sukuk Pemicu Impact Investment SDGs. Journal of Economic, Management, https://ojs.unsiq.ac.id/index.php/jematech/article/view/2684
Alam, N. (2021). Circular Economy Financing: An Islamic Finance Perspective. Islamic Finance and Circular Economy: Connecting …. https://doi.org/10.1007/978-981-16-6061-0_4
Ali Abdul Manap, T. D. (2015). Tapping the Full Spectrum of Investors:The Sukuk Way.
Aslan, H. (2012). Alternatif Bir Yatırım ve Finansman Aracı olarak Sukuk: Yapısı, İşleyişive Türkiye Piyasası için Öneriler (Sukuk as an Alternative Investment and Financing Tool: Structure, Implementation and Implications for Turkish Market). Marmara
Üniversitesi.
Bayındır, S. (2007). Menkul Kiymetleştı̇rme Uygulamalari Ve Fikihtakı̇Yerı̇. İstanbul Üniversitesi İlahiyat Fakültesi Dergisi, 16, 249–273.
COMCEC. (2018). The Role of Sukuk in Islamic Capital Markets (C. C. Office (ed.); Issue February). The COMCEC Coordination Office.
COMCEC. (2020). Improving Shariah Governance Framework in Islamic Finance.
E. Aydın, K. A. (2015). Evaluating Lease Certificates And Asset Lease Companies According To Income Tax And Corporate.
IIFA. (2000). Definition of Sukuk.
IIFM. (2019). Sukuk Report (Issue July).
IIFM. (2020). Sukuk Report: A Comprehensive Study of the Global Sukuk Market.
Irina, I., & Anna, M. (2020). Do Investors Pay Yield Premiums on Green Bonds?
Корпоративные Финансы. https://cyberleninka.ru/article/n/do-investors-pay-yieldpremiums-on-green-bonds
ISRA. (2017). Sukuk: Principles and Practices. International Shariah Research Academy for Islamic Finance.
Kadiri, M. (2021). Nigeria as a Global Hub for Traditional and Islamic Green Financing. Available at SSRN 3862687. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3862687
Keshminder, J. S., Singh, G. K. B., Wahid, Z. A., & Abdullah, M. S. (2019). Green sukuk: Malaysia taking the lead. Malaysian Journal of ….
Khan, N., Kchouri, B., Yatoo, N. A., Kräussl, Z., Patel, A., & ... (2022). Tokenization of sukuk: Ethereum case study. Global Finance ….
https://www.sciencedirect.com/science/article/pii/S1044028319303552
Khiyar, K. A., & Galfy, A. Al. (2014). The Role of Sukuk (Islamic Bonds) in Economic Development. Journal of Financial and Actuarial Mathematics and Management, 2, 31–35.
Maulana, A., & Zahro, F. (2021). Blue sukuk as a solution to Indonesia maritime economic crisis due to the global COVID pandemic. Journal of Islamic Finance. https://journals.iium.edu.my/iiibf-journal/index.php/jif/article/view/560
Maulana, H., Harahap, S. A. R., & ... (2022). Islamic Financial Literacy, Financial Inclusion, Using Fintech and Their Influence on Performance of Micro, Small and Medium-Sized Enterprises. Islamic Fintech:(Present https://books.google.com/bookshl=en%5C&lr=%5C&id=sgWhEAAAQBAJ%5C&oi=fnd%5C&pg=PA157%5C&dq=maqashid+green+finance%5C&ots=R6yynwocyw%5C&sig=IMxo4QjL-gs6QxMoUPV2Q-3VkQQ
Ministry of Finance Turkey. (2016). Turkish Taxation System (Issue 14065294).
Moody’s. (2020). Turkish Islamic Banking set for fast growth after slow start.
Munir, S., Masruro, U., Fawaiq, A., & ... (2020). Green Sukuk: Indonesian Youth Investment Prospects For Environmental Sustainability. Economics Business https://dergipark.org.tr/en/pub/ebor/issue/58610/847037
Patel, G. H. (2017). Islam and capital, mortared by trust: the case of Sri Lanka. Society and Business Review, 12(3), 373–394. https://doi.org/10.1108/sbr-07-2017-0045
Peng, W., Lu, S., & Lu, W. (2022). Green financing for the establishment of renewable resources under carbon emission regulation. Renewable Energy. https://www.sciencedirect.com/science/article/pii/S0960148122013180
Raeni, R., Thomson, I., & Frandsen, A. C. (2022). Mobilising Islamic Funds for Climate Actions: From Transparency to Traceability. Social and Environmental https://doi.org/10.1080/0969160X.2022.2066553
Seibel, H. D., & Imady, O. (2006). Principles and Products of Islamic Finance.
Sidlo, K. W. (2017). Sharia-Compliant Investments in Infrastructure and Development
Capital Financing. CASE – Center for Social and Economic Research, 17.
Simpson, J., & Weiner, E. (1993). Oxford English Dictionary. Oxford University Press.
Sunil, A., & Momany, M. T. (2020). Impact of green finance on the economy of developing countries. International Journal of Management (IJM). https://www.academia.edu/download/67755567/IJM_11_08_100.pdf
TKBB. (2015). Turkish Participation Banking Strategy Document.
Turkish Presidency Degree, no: 2569, (2020).
Ulusoy, A., & Ela, M. (2018). Dünyada Sukukun Vergilendirilmesinde Yaşanan
Gelişmeler ve Türkiye İçin Öneriler. Eskişehir Osmangazi Üniversitesi İktisadi ve İdari Bilimler Dergisi, 13(2), 185–204. https://doi.org/10.17153/oguiibf.412241
