Discount of the purchase price
36. Any discount on cost of acquisition obtained upon purchase by IFI shall be reflected as a reduction in the acquisition cost.
Illustration 8: Discount Benefit to Purchase Orderer
A supplier offers a 10% trade discount to its purchasers for any purchase worth RM50,000 and above. The IFI, based on the promise by the purchase orderer, purchases an asset worth RM50,000 from the supplier. The client, being the purchase orderer, subsequently purchases the asset from the IFI at RM50,000 with a mark-up of 20% via a Murabahah contract. Although there is no contractual relationship between the supplier and the purchase orderer, the latter should enjoy the benefit of this discount. Without the discount, the Murabahah sale price payable by the client is (1.2 X RM50,000) RM60,000. However with the 10% discount, the Murabahah sale price payable by the client is (1.2 X RM45,000) RM54,000.