By Stefano Loconte
Read the contribution of our Founder and Managing Partner Stefano Loconte, published in Islamic Finance news Volume 17 Issue 9 – 4th March 2020, about a draft law aiming to facilitate Islamic Investments in our country.
“One of the most important steps that Italy has taken to open the doors to Islamic finance is represented by the draft law set out in 2017, the purpose of which is to regulate the tax treatment of some Islamic financial contracts, namely Murabahah, Ijarah and Istisnah. The bill was drawn up by the VI Finance Committee of the Chamber of Deputies of the Italian parliament, chaired by Maurizio Bernardo. Moreover, the working group was supported by tax experts coordinated by our founder and managing partner Stefano Loconte. Tax Treatment is one of the biggest obstacles to the full implementation of Islamic financial contracts and instruments in countries in which conventional finance principles are applied (eg Italy)”