DanaInfra gets approval for tax exemption on retail Sukuk stocks

The Edge Markets, 20 June 2016

KUALA LUMPUR (June 20): In an announcement released today, DanaInfra Nasional Bhd shares that it had obtained approval from the Ministry of Finance for the exemption of income tax on coupon payment on contract notes.

In a filing to Bursa Malaysia today, DanaInfra said the approval, which was granted on Dec 27, 2012, allows the exemption of income tax on coupon payment on contract notes executed upon trading of DanaInfra Retail Sukuk on Bursa Malaysia Securities.

According to DanaInfra, the tax exemption is effective for a ten-year period starting from 2013 until 2022.

Meanwhile, a separate announcement showed that the company had also managed to obtain approval for the exemption of income tax on coupon payment and the exemption of stamp duty on DanaInfra retail sukuk contract notes.

"DanaInfra is pleased to announce that the company had on Nov 22, 2014 obtained the Ministry of Finance's approval for the exemption of income tax on coupon payment and on Dec 6, 2013 obtained approval for the exemption of stamp duty payable on contract notes executed upon trading of DanaInfra Retail Sukuk on Bursa Malaysia Securities," it said. The income tax exemption will be effective for a fifteen-year period starting from 2013 until 2027.

(Web source: http://www.theedgemarkets.com/my/article/danainfra-gets-approval-tax-exemption-retail-sukuk-stocks)