The slowdown in the demand for conventional financing thanks to the economic downturn has left debt and equity issuers considering alternative methods, such as Islamic finance. Joanna Faith finds out if governments outside the Muslim world are doing enough with their tax legislation to make this new approach a viable option.
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The new guidance is not meant to reflect a substantial change to UK law, but the requirement that tax advice is ‘likely to be correct’ imposes unrealistic expectations
China and a clutch of EU nations have voiced dissent after Estonia shot down the US side-by-side deal; in other news, HMRC has awarded companies contracts to help close the tax gap