Why Is Zakat on Business Assets Paid Based on the Retail Value?

CategoriesZakah [309]

Fatwa ID: 06524

 

Answered by: Alimah Zakiratul Hoque

 

Question:

 

Why is Zakat on business assets paid based on the retail value?

 

 

In the name of Allah, the Most Gracious, the Most Merciful

 

Answer:

 

One of the logical reasonings for giving Zakat is to help the poor and needy (Badai Al Sanai, Vol 2, Pg 381-382).

 

Zakat is paid based on retail prices to maximize its benefit for the recipients: the needy (Badai Al Sanai, Vol 2, Pg 429). It would allow recipients to more easily purchase products as they would have received enough money to purchase products at the price the products would be available to them.

 

أداء الزكاة من باب إعانة الضعيف و إغاثة اللهيف و إقدار العاجز و تقويته على أداء ما افترض الله عز و جل عليه من التوحيد و العبادات و الوسيلة إلي أداء المفروض مفروض

الدراهم و الدنانير و إن كان في الثمنية و التقويم بهما سواء لكنا رجحنا أحدهما برجح و هو النظر للفقراء ، و الأخذ بالإحتياط أولى ألا تري أنه لو كان بالتقويم بأحدهما يتم النصاب و بالآخر لا فإنه يقوم بما يتم به النصاب نظرا للفقراء و احتياطا؟

 

 

 

Only Allah knows best.

Written by Alimah Zakiratul Hoque

Checked and approved by Mufti Mohammed Tosir Miah

Darul Ifta Birmingham

 

 

 

 

 

 

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