Difference between Zakat and Tax First I would like to say that Zakat is related to religion and tax is related to government. In no way Zakat and tax can go together; they are different in many respects. While zakat has a religious sanctity‚ tax is not like that. Tax is collected from all citizens of a country. The government collects tax for the overall development of the country; On the other hand‚ Zakat is only imposed on Muslims. Zakat is fixed as per the Holy Quran and cannot be changed by
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PROFESSIONAL ZAKAT INSTITUTIONS: THE MALAYSIAN PERSPECTIVE Najihah Mokter Kuliyyah of Economics and Management Sciences International Islamic University Malaysia Abstract: Zakat is a duty from Allah since it is one of Pillars in Islam similar to the duty of Solat. In establishing Solat‚ the Muslims community organizes a place of worship so that it can be performed completely by Muslim. Similarly‚ Muslims are obligated to establish the institution of Zakat in order to collect Zakat and distribute
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Arabic word Zakat means purity and cleanliness. The word Zakat is derived from word “Tazkia”. In religious terminology‚ Zakat means that a Muslim who is in possession of certain amount of wealth or more‚ is required by his religion to spend 1/40 of it at the end of year on the poor‚ the needy and the wayfarer‚ an on such other items of charity and good doing‚ as are prescribed for it by God and the Prophet. Zakat In The Light Of Quran And Hadith: Among the fundamental tenets of Islam Zakat occupies
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Can Taxes Substitute For Zakat? In the contemporary societies today‚ many questions concerning the tax and Zakat arise. Such questions need a discussion and analysis from the opinion of scholars. The question such as must a Muslim tax payers pay Zakat in addition to the taxes paid to the government? Or can taxes substitute Zakat in the first place? In order to answer those questions‚ we must always remember that there’s an essential features of Zakat‚ without it Zakat does not exist. The important
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ZAKAT MANAGEMENT IN NIGERIA: THE STATUS QUO MUSTAFA‚ Murtala Oladimeji .Abioye Ph.D. University of Abuja‚ Abuja‚ Nigeria‚ and Siti Normala Sheikh Obid Ph.D. International Islamic University Malaysia Abstract Over a decade ago‚ states that adopted Shariah legal system‚ in the northern part of Nigeria as well as non-governmental organizations in the southern western part re-introduced institutionalized zakat management but only fragmented knowledge of status of this initiative is available despite
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the performance of zakat distribution in Perak‚ Kedah‚ Negeri Sembilan and Selangor. The objective of the study is to compare the trend in zakat distribution in the selected states. They used the financial report of 1990 to 2001 from the respective State Islamic Religious Councils to analyze the trend in zakat distribution. They found that‚ on average the respective SIRCS only distributed 69% to 80% of the amount of zakat collected every year. In fact‚ RM133.12 million of zakat was collected in Selangor
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BUSINESS ZAKAT AND TAX ON BUSINESS INCOME IN MALAYSIA Rohila Awang Mohd Zulkifli Mokhtar Faculty of Management and Economics Universiti Malaysia Terengganu Abstract The focus of this paper is to demonstrate the technical comparison between business zakat and taxation. This paper aims to enhance the knowledge on the part of zakat assessment and the management of zakat as compared to the system of taxation in Malaysia. This is to minimise the misunderstandings that exist in paying zakat as an obligation
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OBJECTIVE The objective of the study is to explain the Islamic economic in general and public finance in particular which is aligned with the development of Islamic economy in today’s world. The literature in Islamic public finance is rich both in terms of coverage as well as scope of analytical content. Islamic public finance has been discussed and being practiced by the Muslim scholars ages ago. The elements in Islamic public finance can be gauged by numerous instructions in the Quran. It is heartening
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the most important principles of Islam is that all things belong to God‚ and that wealth is therefore held by human beings in trust. The word Zakat means both ’purification’ and ’growth’. Our possessions are purified by setting aside a proportion for those in need‚ and‚ like the pruning of plants‚ this cutting back balances and encourages new growth. Zakat is the amount of money that every adult‚ mentally stable‚ free‚ and financially able Muslim‚ male and female‚ has to pay to support specific categories
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Five Pillars of Islam are Belief (Shahada)‚ Obligatory prayers (Salat)‚ Almsgiving (Zakat)‚ Fasting (Sawm)‚ and the pilgrimage to Mecca (Hajj). Total submission to Allah occurs in three ways. Shahada strives to promote dedication and total acceptance of faith. Hajj and Salat assist in submission to Allah as they are practical manifestations of faith that provide a continuous link to Allah. In performing Sawm and Zakat‚ adherents please Allah and are reminded of his authority and power. The First Pillar
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