Sukuk, which has arisen in interest-free finance sector and has been defined as ”interest-free bond”, has been issued as “certificate of lease” in our country. Sukuk taken an important place among the existing investment vehicles of capital market both in developed and in developing countries in the last years. Sukuk has been observed to be on investment vehicle that meets the expectations, together with the searches for different investment alternatives. Therefore, various arrangements have been put into force in order to increase sukuk applications in our country. The said arrangements include tax incentives.
First of all, a general framework about the participation banking, which takes place in the interest-free finance sector and in which sukuk has been presented as an investment product, has been designed in this study. Then, the issuance process of the certificates of lease has been mentioned by explaining the description, characteristics, development and types of sukuk instrument. Finally, tax arrangements about sukuk have been placed in the study.