Why is Zakat calculated on selling price of goods
| Fatwa #1095 | Category: Zakaat & Sadaqah | Country: Zambia | Date: 21st March 2024 |
| Fatwa #1095 | Date: 21st March 2024 |
| Category: Zakaat & Sadaqah | |
| Country: Zambia | |
Question
-I was supplied 100 pairs of shoes @ 20 000(which i still owe my supplier)
-i will be pricing those 100 pairs of shoes at 40 000.
-my zakaat dates fall the follwing day
In my calculations to give zakaat i have to add 40000(selling price)
In my calculations to to deduct my debt i have to subtract 20000(cost price)
Why is it that i need to take into account selling price when adding,
And taking cost price into effect when i have to subtract the debt.
As a retailer it might take me another year to seel those 100 pairs,if it does not sell i might have to put on sale.
So why is it that selling price should be counted where as i would say the market price for us buyers would be the cost price to take into effect
Answer
In the Name of Allah, the Most Gracious, the Most Merciful.
As-salāmu ‘alaykum wa-rahmatullāhi wa-barakātuh.
In principle, the zakat of goods for trade is to be discharged by giving away 2.5% of the actual goods. One has an option to instead pay its monetary equivalent, which is its market value as at that day (Zakat date), irrespective of its cost price.[1]
The fact that you are selling those shoes for 40,000 means that the shoes as at your Zakat date are valued at 40,000. How long it might take you to sell those shoes has no impact on the Zakat calculation. Similarly, future possibilities of putting on sale etc have no bearing on your Zakat calculation.
And Allah Ta’āla Knows Best
Mufti Bilal Pandor
Concurred by
Mufti Muhammad Patel
Darul Iftaa Mahmudiyyah
Lusaka, Zambia
المحيط البرهاني في الفقه النعماني (2/ 246) [1]
وذكر محمد رحمه الله في «الرقيات» أنه يقوم في البلد الذي حال الحول على المتاع بما يتعارفه أهل ذلك البلد نقداً فيما بينهم، يعني غالب نقد ذلك البلد، ولا ننظر إلى موضع الشراء، ولا إلى موضع المالك وقت حولان الحول؛ لأن هذا مال وجب تقويمه، فيقوّم بغالب نقد البلد كما في ضمان المتلفات إلا أنه يعتبر نقد البلد الذي حال الحول فيه على المال؛ لأن الزكاة تصرف إلى فقراء البلدة التي فيها المال، فالتقويم بنقد ذلك البلد أنفع في حق الفقراء من حيث الرواج، فيجب اعتباره