Monday, March 21, 2011

Sharia Alert: British Investors Using Sharia Clause to Avoid Taxes

Never in my wildest dreams would I have thought that there might be problems with Western governments attempting to apply Sharia in the West.

UNITED KINGDOM--Sharia law is being used by house buyers posing as Muslims to dodge stamp duty, it was revealed yesterday.

A scheme, brought in by Labour in 2005, allows followers of Islam to buy property without paying the tax.

Paying interest is banned under Sharia law, so Muslims are allowed to buy a house and then sell it on to an offshore financial company.

They then lease the house from the company instead of taking out a mortgage, which would include interest payments. Stamp duty, which is applicable to all properties worth £125,000 and over, does not have to be paid on properties which are immediately sold on.

But the loophole, which costs the Treasury £40million a year, is now being used by some who pretend to be Muslim.

Sultan Choudhury, from the UK Islamic Finance Secretariat, said: “It was certainly not envisaged that some tax advisers would manipulate the legislation on behalf of their clients to avoid paying stamp duty at all.” (Source)

"Paying interest is banned under Sharia law." Anyone ever consider telling U.K. Muslims that that Great Britain is not under Sharia law? Would that be too bigoted?


Fernando said...

I'm sure Hollywoode will make a "Milk 2" to portraitte the way gay people are treated in islam... I'm absolutelly sure...

donna60 said...

Whether or not it is bigoted to inform Muslims that Britain is not under Sharia, it is not accurate.

Britain is indeed under Sharia. Why would Britain allow Muslims a financial boon that they don't grant other religions, anyway?

simple_truth said...

It is insane to allow such an exemption to exist! What were those legislators thinking? How could they have possibly thought that this would help maintain economic stability and religious and cultural harmony in the UK? It's just plain stupid.

TheBereanSearch said...

Preferential treatment under the law granted based on religious affiliation...UK what are you thinking!?!?

There has to be grounds for a non-Muslim to sue in the court system for discrimination because of this law. There has to be. I don't know much about laws in the UK, but I do know that British Common Law is the source of much of the legal system in the US, and I seem to remember rights of equal treatment before the law for all citizens of the British Empire that date back to before the formation of the United States.

Sophie said...

Simple Truth, you said:

"How could they have possibly thought that this would help maintain economic stability and religious and cultural harmony in the UK?"

Under the previous left-wing government's way of thinking, it makes perfect sense (and this law was made when they were in power). Everything they've done over the past several years has been to promote and appease non-Christian minority groups in the UK even at the expense of the rest of us. An example is the authorities' response to "hate crimes" (apparently crimes don't involve hate unless they are inflicted on a minority) compared to their response to ... uh... dispassionate (?) crimes - hate crimes are the priority and the goal of the police is no longer to protect the public but to enforce 'community cohesion'. I haven't always admired the USA but these days I find myself increasingly wishing that UK citizens knew and valued their rights and freedoms as much as Americans do, rather than letting ourselves get indoctrinated against ourselves. Now that we know about this horrible law, hopefully people will kick up a fuss and it will get repealed. People are waking up to this kind of nonsense and I believe that the new government is going to be held to account much more for this kind of thing. I'm one of many Brits who never thought I'd see myself as right-wing, but I do now. A recent poll has shown that 48% of British voters would now consider voting for a right wing party, provided it was non-violent and non-racist. I can only see that as a good thing.

Daniel Bryan said...

The Sharia Clause is a grounds for debate. In the other hand, it is a feasible way of tax leeway, but on the other hand, it does raise concerns of exploiting the said provisions.
form 2290

Gerrison said...

You can, of course, find different excuses for tax evasion, but in the end such a decision will lead to big problems, even if you are a three-time muslim. I advise everyone to read one article about the crypto tax, where you will find useful tips on minimizing taxes in this field of activity, because this is very relevant now and many are arguing about this.