Interplay Between the Metaverse and Islamic Finance: Mutual Impacts and Implications for Taxation

Öz

Metaverse, İslam finansı ilkeleriyle birlikte ele alındığında, gerçek zamanlı ve Şeriata uygun vergilendirme modelleri için üç temel senaryo sunarak evrimsel bir yaklaşım ortaya koymaktadır. İlk senaryo, genellikle sanal varlıkların yalnızca gerçek dünyaya dönüştürüldüğünde vergilendirildiği metaverse içi işlemleri kapsamaktadır. Önerilen İslami Gerçekleşmemiş Vergi Rezerv Hesabı (INETRA) sistemi, varlıkların değer kazandıkça vergilendirilmesini sağlayan piyasa-değerine göre vergilendirme yaklaşımını öne çıkarır. Bu, geleneksel vergi erteleme yöntemlerine meydan okumakta ve daha erken vergilendirmeyi gündeme getirmektedir. İkinci senaryo, metaverseler arası varlık transferlerini ele almaktadır. Makaleye göre, bu tür işlemler kripto para borsalarında olduğu gibi anında vergilendirilmelidir. Bu durum, “yapıcı çıkış”a benzetilerek, sanal paraların İslam’a uygun varlıklara dönüştürülmesiyle tetiklenen vergisel olaylara işaret etmektedir. Üçüncü senaryo, sanal varlıkların itibari para veya gerçek servete dönüştürülmesiyle ilgilidir. Mevcut uygulamalarda sadece gerçekleşmiş kazançların vergilendirilmesine yönelik eleştiriler getirilmekte ve metaverse işlemlerinden elde edilen gerçek değerin güvence altına alınacağı bir sistem önerilmektedir. Bu bağlamda, metaverse sukukları (Şeriata uygun tahviller) ve diğer İslami finansal araçların vergilendirilmesi kritik görülmektedir. Makale ayrıca finansal tabloların ve AAOIFI muhasebe standartlarının, İslami bankacılık işlemlerindeki vergi hesaplamalarında oynadığı rolü vurgulamakta; Suudi Arabistan’ın sukuk yönetimine ilişkin yönergeleri ve bazı transferlerde sağlanan KDV muafiyetlerini örnek göstermektedir. Sonuçta, çerçeve İslam finansı ilkelerinin metaverse vergi politikalarıyla kesişimini ortaya koymaktadır. Her iki alan da varlık değerlemesi ve vergilendirmenin zamanlamasıyla ilgili benzer zorluklar taşımakta; bu da etik ve ekonomik unsurları gözeten uluslararası uyumun önemini göstermektedir.

Anahtar Kelimeler

• Vergilendirme
• Metaverse
• İslami finans
• Disiplinlerarası

Interplay Between the Metaverse and Islamic Finance: Mutual Impacts and Implications for Taxation

Abstract

The metaverse offers an evolutionary approach to taxation when viewed through Islamic financial principles, presenting three main scenarios for real-time, Sharia-compliant models. The first involves intra-metaverse transactions, where virtual assets are usually taxed only upon conversion to real-world assets. The proposed Islamic Non-Executed Tax Reserve Account (INETRA) system introduces mark-to-market taxation, levying taxes as assets appreciate. This challenges traditional tax deferral methods and suggests more immediate taxation. The second scenario covers cross-metaverse exchanges. When assets move between different virtual environments, the article argues taxation should occur instantly, similar to cryptocurrency exchanges. This is compared to a “constructive exit,” triggering taxable events akin to converting virtual currencies into Islamic-compliant assets. The third scenario examines conversions of virtual assets into fiat currency or real wealth. It critiques the focus on realized gains and recommends a framework that ensures value extraction from metaverse transactions. Special attention is given to metaverse sukuk (Sharia-compliant bonds) and other Islamic financial instruments, highlighting the importance of aligning them with Islamic tax compliance. The article emphasizes the role of financial statements and AAOIFI accounting standards in shaping tax calculations for Islamic banking, noting Saudi Arabia’s guidelines for sukuk management and VAT exemptions on certain transfers. Overall, the framework demonstrates how Islamic finance principles intersect with metaverse tax policy. Both domains share challenges in asset valuation and timing of taxable events, underscoring the need for internationally harmonized tax laws that balance ethical and economic considerations.

Keywords

• taxation
• metaverse
• Islamic finance
• interdisciplinary

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