Q: I have a retail business that's just breaking even month on month, alhumdulillah. This year has been my hardest year and revenue is declining. I have approximately R2.8mil in stock that is very slow moving and I want to know, how do I go about paying the zakaat on my business this year? The revenue generated weekly is used for salaries, day to day expenses and purchasing of fast selling goods. There are weeks that I don't take any wage, so I need to plan ahead, so that my business zakaat can be discharged accordingly. My zakaat date is 1st Rabi Al Awaal
A: If all the merchandise have been purchased for resale, then all the merchandise is regarded as zakaatable wealth. The value of the total merchandise will have to be worked out on your zakaat date and you will have to discharge 2,5% of the total value of your merchandise in zakaat to the poor. If you do not have cash to discharge in zakaat, you can give the goods as zakaat. The current market value of the goods will be considered when giving it in zakaat.
And Allah Ta'ala (الله تعالى) knows best.
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