Tax treatment

Technical Release i-4 (TR i-4) “Shariah Compliant Sale Contracts”
: TR i-4 is to clarify the recognition 
and derecognition requirements for items acquired or transferred through a Shariah compliant 
sale contract.
In addition to this, MASB is the Leader of the Asian-Oceanian Standard Setters Group (AOSSG)
2 
Islamic Finance whose other members comprise standard-setters from Australia, China, Dubai, 
Korea, Pakistan and Saudi Arabia. The Working Group was set-up with the objective to facilitate 
AOSSG members to provide input and feedback to the International Accounting Standard Board on 
the adequacy and appropriateness of proposed and existing IFRS to Islamic financial transactions 
and events. 
2
AOSSG is a group of accounting standard-setters in the Asia-Oceania region, within which there are 
several working groups to provide input into topics that are of importance to the region.

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