Zakat on commerce is a vital topic that needs to be considered if you are a businessperson. Zakat on commerce is an obligation that must be fulfilled, as well as a means of purifying wealth and accelerating blessings in business. When you invest capital, manage inventory, and earn profits in your business, always remember that there are eight groups of people who are entitled to receive zakat from your business activities.
Business zakat is included in zakat mal or wealth zakat. Zakat is paid from wealth that is traded for the purpose of earning profit. According to the National Zakat Agency (BAZNAS), commercial wealth has at least two motivations. The first is for business or buying and selling, and the second is the motivation to make a profit.
Read also: Nishab and Haul Zakat are Different! Check How to Calculate and the Regulations
Sharia Basis of Zakat on Commercial Assets
The commandment of zakat on commercial assets is based on Allah’s words in Surah At-Taubah verse 103 of the Quran, which reads, “Take zakat from their wealth (in order) to purify and cleanse them, and pray for them, for indeed your prayers are a source of tranquility for them. Allah is All-Hearing, All-Knowing“ (QS. At-Taubah verse 103).
”O you who believe, spend from the good things you have earned and from what We have produced for you from the earth. Do not choose the bad for you to spend, when you would not take it unless you close your eyes (reluctantly) to it. Know that Allah is All-Rich and All-Praised” (QS. Al-Baqarah verse 267).
Zakat on business assets is calculated from the total current assets minus short-term debt or debt with a maturity of no more than one year. If, after calculation, the difference between current assets and debt has reached the specified nisab, then the Muslim businessman is obliged to pay zakat on his business assets.
Read also: How Much is Zakat on Trade? Heres How to Calculate It
Nisab and Haul in Commercial Asset Zakat
Commercial asset zakat requires two main conditions, namely nisab and haul. The nisab for commercial zakat is equivalent to the price of 85 grams of gold or around 20 dinars. The haul is a minimum of one Hijri year of business ownership. If current assets minus current liabilities in one year have reached or exceeded the nisab, then you are required to pay zakat of 2.5% of the difference in current assets.
How to Calculate Zakat on Commercial Assets
Imagine that you have business assets worth IDR 300 million and short-term debts of IDR 50 million, while the current price of gold is IDR 1 million/gram. The calculation is as follows:
Zakat value = assets – debts = 300 – 50 = 250 million.
Nisab = 85 x 1 million = IDR 85 million → this means that you are required to pay zakat on business assets.
Zakat = 2.5% x IDR 250 million = IDR 6,250,000
Read also: Who is Zakat Mal Given To? The Following are the Rules and Regulations According to the Quran
Is it permissible to pay zakat on business assets before the haul?
According to the majority of scholars, zakat on business assets can be paid immediately after the assets reach the nisab without having to wait for the haul. The basis for this is the account that the Prophet Muhammad (peace be upon him) gave ‘Abbas a concession (rukhsah) to pay zakat early even though the haul had not been fulfilled.
From Ali bin Abi Talib (may Allah be pleased with him), he said, “Al-‘Abbas once asked the Prophet (peace be upon him) about paying zakat before the haul. Then the Prophet (peace be upon him) gave him a concession (rukhsah) in this matter.” (HR Tirmidhi no. 673 in Sunan At-Tirmidhi, and Al-Hakim no. 5431 in Al-Mustadrak ‘Ala Al-Shahihain. This hadith is considered sahih by Imam Al-Hakim and this assessment is agreed upon by Imam Dzahabi).
Furthermore, it is explained in a hadith from Ali bin Abi Talib (may Allah be pleased with him) that the Messenger of Allah (peace be upon him) said to ‘Umar, “Indeed, we have taken zakat from Al ‘Abbas in the first year (ago) for this year. (‘aamal awwali li al ‘aami).” (HR Tirmidhi no. 674 and Al Daruquthni no. 2033).
Based on the above hadith, Imam Syaukani said, “It is permissible to pay zakat before the end of the haul, even for two hauls (two years). This is the opinion of Shafi’i, Ahmad, Abu Hanifah, as well as Al Hadi and Al Qasim” (Imam Syaukani, Nailur Authar, p. 816).
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Requirements for Paying Zakat on Commercial Assets
In paying zakat on commercial assets, there are mandatory requirements that must be met by Muslim businesspeople, namely:
- In a state of independence, financially capable
- The property is privately owned and free from dispute
- The goods are intended for sale, not personal consumption
- The commercial property has reached the nisab
- The property has been owned for one year, unless it is immediately zakatable in accordance with the scholars’ recommendation to pay zakat immediately.
The Best Time to Pay Business Zakat
The ideal time to pay zakat on business assets is at the end of the Hijri year, before the start of Muharram. However, zakat may also be paid earlier once the nisab has been reached, so it is still valid even if the haul is not waited for.
“Everything has its zakat, and the zakat on trade is at the end of the year” (HR. Abu Daud and Tirmidzi).
Read also: Paying Zakat Maal Online, is it permissible in Islam?
Paying Zakat on Business Assets
Zakat on business assets is a spiritual and social obligation that combines the value of worship with economic benefits. By understanding the law, a Muslim businessman can fulfill this obligation calmly and accurately. Zakat on trade is a form of gratitude for the sustenance that Allah has entrusted, as well as a means of sharing with the eight groups of mustahik who receive it. Hopefully, by paying zakat, wealth will become cleaner, businesses will be more blessed, and social relations within the community will become stronger.
