The taxation of sukuk in the Italian context: is Italy’s tax system ready for Islamic financial instruments?

  • Alberto Franco University of Turin
  • Carlo Sallustio


This contribution analyzes the the Italian tax framework potentially applicable to sukuk, also in connection with the systems of some EU Member States which have already implemented guidelines or rules concerning such instruments.

After a brief analysis of EU countries that have been adopted specific actions (legislative or regulatory) in order to set out a general perspective for the taxation of sukuk, then particular attention will be paid to the Italian situation, also with reference to possible future development.