New Islamic Finance Tax Instructions in France

France has now a tax neutrality regime in place for facilitating Islamic financial products including Islamic bonds and certificates; cost-plus-financing; leasing and construction industry forward financing.

The measures were passed at end July 2010 but were published in the Bulletin Officiel des Impôts n° 78 on Aug. 24. They supersede the instructions published by the French government on Febr. 25, 2009, relating to sukuk and Murabaha transactions only.

The text in original can be found here: http://www11.minefi.gouv.fr/boi/boi2010/cadliste.htm