Paying Zakat And Taxes Separately
Zakat and taxes are not one and the same, however, you can deduct the taxes that you paid in the previous year from your total zakat obligation. Zakat on assets is due once a year. You can pick any day of the year to dispense your zakat. Generally people like to pay their zakat in Ramadan, but that is not a requirement. Zakat on production is due upon production (e.g. salary received). You may choose to defer this to the day that you pay your assets / savings zakat as well in order to keep things simple. On your chosen day, calculate your total zakat for the year and deduct any taxes paid in the previous 12 month period. If there is a remaining balance, you should pay it on that day. You may enter appropriate numbers in our Zakat Calculator after reading the description for each box. When you reach the end, it will generate a statement showing you exactly what you owe after any applicable deductions, and what percentage was applied to each category. It’s also a great way to learn the sharia of zakat. View Zakat Calculator