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Deducting Paid Taxes From Zakat
Aoa. I am a salaried person and paying around a bit more than 30% taxes in total. If i understand the Zakat principle correctly, i may compensate my Zakat (10%) in the taxations. However, i do have to pay a yearly Zakat on my cash savings i.e assests(2.5%). Please correct me if i understood it correctly ?
Now while trying the Zakat calculalor on this website, it asked for the paid taxes. Since the paid taxes are more than the overall due Zakat (sum of zakat on salary 10% and savings 2.5%), its showing me due Zakat as 0 at the end. Isnt it the cases that the taxes only compensate the Zakat on salary & The zakat on saving must still be due ?
Can the modedator please assist me. thanks
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3 Replies
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Deducting Paid Taxes From Zakat
updated 6 months, 3 weeks ago
2 Members
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3
Replies
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Total sum of all taxes paid to the government can be deducted from your total zakat obligation, which includes zakat on production as well as the zakat on savings / assets. The result produced by the Zakat Calculator is accurate.
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Many thanks for the clarification. I have another query regarding this.
32% reduction from my Gross salary includes income tax 9%, pension contributions 10%, health system contributions 10%, Financial assistance in case of job loss and so on.
When we say, Zakat can be deducted from taxes, should I only consider income tax (around 9%) or total deductions from gross salary (details mentioned above, around 32%) ?
Many thanks
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Only taxes can be deducted from your zakat obligation. Paycheck deductions that are for your personal benefit, for example health insurance or retirement plan contributions are not deductible from zakat.
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