Zakat on goods displayed for sale in the grocery store every year
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Fatwa number ( 15765 )
Q: I am a man who owns a grocery store where I buy and sell. I have been engaged in the trade of buying and selling in it for more than five years. My question is: Do I owe zakat on it, and if I do owe zakat on it, how is it calculated? I should inform you that I do not distribute any of the capital or the profit until a lunar year has passed over it; rather, I accumulate the capital and the profit and use it to purchase goods
to strengthen my grocery store, and this is throughout the year.
A: It is obligatory for you to pay zakat on the goods displayed for sale in the grocery store every year. The method for this is that if a full lunar year has passed over the grocery store, you must take an inventory of what is in it that you have displayed for sale, determine its value, and pay out one-fifth of a tenth (2.5%) of its value. You must also include the debts owed to you by people and the balance in your bank account. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Q: I am a man who owns a grocery store where I buy and sell. I have been engaged in the trade of buying and selling in it for more than five years. My question is: Do I owe zakat on it, and if I do owe zakat on it, how is it calculated? I should inform you that I do not distribute any of the capital or the profit until a lunar year has passed over it; rather, I accumulate the capital and the profit and use it to purchase goods
to strengthen my grocery store, and this is throughout the year.
A: It is obligatory for you to pay zakat on the goods displayed for sale in the grocery store every year. The method for this is that if a full lunar year has passed over the grocery store, you must take an inventory of what is in it that you have displayed for sale, determine its value, and pay out one-fifth of a tenth (2.5%) of its value. You must also include the debts owed to you by people and the balance in your bank account. And success is from Allah, and may Allah send prayers and blessings upon our Prophet Muhammad, his family, and his Companions.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.