Due date for Zakaat for shareholders of a company

Q: A group of people formed a company. Some of the partners say that zakaat is due annually on the date of inception. While others say each shareholder needs to pay Zakaat according to the value of his share on the day on which his Zakaat is due annually. Please advise on what date should the Zakaat for the company be calculated?

A: Each partner should pay according to his date of zakaat.

And Allah Ta'ala (الله تعالى) knows best.

Answered by:

Mufti Ebrahim Salejee (Isipingo Beach)