Question ID: 25781
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Assalaamualaikum

I would like to know if it is permissible to record on my books of accounting a loan and interest between two companies which are both owned by me / between my company and myself? (I may make “interest” payments from one bank account to another, but my intention is not to engage in riba) This is purely to obtain a tax advantage from recording in this way a transaction between 2 legal entities which is in essence me transacting with myself.

JazaakAllahukhair

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Asked on December 18, 2009 12:00 am
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Permissible, Makrooh.
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Answered on December 18, 2009 12:00 am