Government Wants Syariah Bonds Decree Exclusions
Wednesday, 08 November, 2006 | 17:53 WIB

TEMPO Interactive, Jakarta: The Finance Department wants the Syariah Bonds Decree to be excluded from other regulations or lex specialis.

The purpose of this is so that it does not contradict or violate any other decrees.

“The provisions are in the Decree of Corporation, Capital Market and State-Owned Enterprises. But in accordance to that, we can’t move,” said Rahmat Waluyanto, Director General of Debt Management at the Finance Department, in Jakarta yesterday (7/11).

As examples are the requirement of establishing business as one of Syariah bonds instruments and the provision of bonds transactions.

However, Syariah bonds transactions are still charged with value-added tax (VAT) twice higher.

The State Syariah Bonds Draft Bill has been completed and will be submitted to the parliament within this month.

Agus Supriyanto