이슬람 채권 수쿠크의 도입 방안에 관한 연구

In September 2009, the Korean government prepared a draft amendment of the Special Tax Treatment Control Act and tried to submit it to the National Assembly for approval, but the effort was not successful. The Purpose of this paper is to explore the major issues as to Islamic bond support plan and examine the feasibility of tax incentives. And also we examine the possibilities and issues in Korea regarding the introduction of Islamic bond by comparing with Japanese experiences on Islamic bond. The results of this study are as follows. First, Islamic bond is designed to pay lease or sale-gain instead of interest according the Islamic law but Islamic bond is foreign currency bond under principle of real taxation. Thus, as for Islamic bond, it is possible to apply tax exemption regulations based on the Restriction of Special Taxation Act Article 21: tax exemption of interest income. Second, with the growing demand for Islamic finance, many non-Islamic countries, including Japan, are beginning to amend or adopt their domestic related norms and system for better using Islamic finance. Considering that the continuing growth of Islamic finance will be an alternative system to conventional finance, our government should actively participate with Islamic finance market. We need to review Japan's quick movement and active continuing steps to facilitate the Islamic bond, and we need to introduce Islamic bond gradually.