Islamic tax forum concludes in Kuwait

The fourth conference of the Association of Tax Authorities of Islamic Countries (ATAIC) concluded its four-day activities on Wednesday.

Islamic tax forum concludes in Kuwait

In the closing statement, the forum's head and Kuwaiti Finance Assistant Undersecretary for Financial and Tax Affairs Fawzi Al-Qassar said the fifth conference will be held in Indonesia during 2008 and the sixth event will take place in Sudan sometime in 2009.

He added that the seventh forum will be held in Morocco during 2010.

He stressed the importance of presenting Islam's rules and guidelines regarding taxes through developing ATAIC's activities and role by having bylaws and a permanent secretariat that has the support of all member nations.

The consultative meeting of ATAIC approved the membership of Saudi Arabia and establishing a committee to draft the bylaw in accordance with a timetable.

Conveners agreed to discuss the bylaw and relevant matters during the fifth forum.
The forum discussed papers regarding information technology (IT) and its role in tax management. The papers were submitted by Cameron, Egypt, Indonesia, Iran, Malaysia, Morocco, Turkey, Yemen and Sudan.

As for taxes on Islamic financial tools, Al-Qassar said papers in this regard were submitted by Iran, Kuwait, Saudi Arabia, Malaysia and Qatar, noting that they all agreed that such tools were not subject to taxes.

He noted that tax systems needed to be updated and developed in accordance with the widespread of these Islamic tools to fit the conditions of relevant persons and bodies.
He lauded input and insights by the forum's participants as this event gave a humanitarian dimension to technical and cultural aspects of taxes.

Along with several firms and international organizations, the forum witnessed the participation of 17 Islamic nations: Kuwait, the United Arab Emirates, Saudi Arabia, Oman, Brunei, Egypt, Sudan, Yemen, Malaysia, Bahrain, Qatar, Indonesia, Cameron, Senegal, Morocco, Iran and Pakistan.

The forum kicked off last Sunday under the patronage of His Highness Kuwaiti Premier Sheikh Nasser Al-Mohammad Al-Ahmad Al-Sabah.


Güncelleme Tarihi: 28 Kasım 2007, 18:22