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There were government-run but voluntary Zakat contribution programs in Bahrain, Bangladesh, Egypt, Indonesia, Iran, Jordan, Kuwait, Lebanon, and the United Arab Emirates. [ 41 ] [ 42 ] The states where zakat is compulsory differ in their definition of what assets (and sometimes income) are "zakatable"—eligible for contributing zakat. [ 43 ]
zakat - one of the five pillars of Islam. Only imposed on Muslims, it is generally described as a 2.5% tax on savings to be donated to the Muslim poor and needy. [1] [2] It was a tax collected by the Islamic state.
Statutorily and administratively, the FIRS has the responsibility for the assessment, collection and accounting of taxes to the Government: [9] The timely provision and publication of accurate data and annual reports to the Federal Government of Nigeria and other stakeholders to inform national economic planning, academic research, tax policy and development legislation [10]
In Sharia (Islamic Law) niṣāb (نِصاب) is the minimum amount of wealth that a Muslim must have before being obliged to give zakat. Zakat is determined based on the amount of wealth acquired; the greater one's assets, the greater the zakat value. Unlike taxable income in secular states, niṣāb is not subject to special exemptions.
Zakat spending as per Holy Quran on 8 categories of people Silver or gold coinage is one way of granting zakat. Zakat (or Zakāh) is one of the five pillars of Islam. Zakat is the Arabic word for "Giving to Charity" or "Giving to the Needy". [a] [3] Zakat is a form of almsgiving, often collected by the Muslim Ummah. [1]
The seventh century caliph Umar implemented a form of zakat, one of the Five Pillars of Islam, as a codified universal social security tax. [12] Traditionally estimated at 2.5% of an individual's assets, government zakat funds were distributed to various groups of Muslims, including impoverished people and those in severe debt.
The IZO was founded in late 2008 by the Government of Malaysia.In May 2007, the Hon. Dato’ Seri Syed Hamid Albar, Minister of Foreign Affairs of Malaysia, had tabled a resolution for the formation of the International Zakat Organization at the thirty-fourth session of the Islamic Conference of Foreign Ministers of the Organisation of the Islamic Conference in Islamabad.
Sadaqat al-Fitr is a duty which is considered wajib (required) of every Muslim, whether male or female, minor or adult as long as they have the means to do so.. According to Islamic tradition (), Ibn 'Umar said that the Islamic Prophet Muhammad made Zakat al-Fitr compulsory on every slave, freeman, male, female, young and old among the Muslims; one Saa` of dried dates or one Saa` of barley.