Wednesday, December 1, 2010

Are Business Zakatable?


First of all, the business should be Halal.

There are three opinions amongst the scholars:

1. If a businessman earns a certain amount from his business, whatever he saves after taking care of his family's needs and his business expenses, he pays Zakat of 2.5 percent on what he has saved.

2. A businessman has to pay Zakah on the commodities in his store. This would require evaluating the purchasing power of the commodity and then paying 2.5 percent on this amount.

3. Everything is from Allah and everything goes back to Allah. The more you give on your commodities, the better, and it does not have to be 2.5 percent.