Assets of companies prepared for use: Are they subject to zakah?
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Q3: Some companies purchase certain real estate or vehicles for the purpose of using them, not for trading in them. They may not be able to transfer the ownership of these real estate or assets to the company’s name by the end of their financial year, even though they are used for the company’s purposes. Are these assets deducted from the company’s zakah base, whether the ownership is transferred to the company’s name or not? It is known that the purchase was made under formal contracts and that the company uses these purchased assets.
A3: The real estate, vehicles, and similar items that a company purchases for the purpose of using them, not for trading in them, are not subject to zakah. This applies equally to those whose ownership has been transferred and those whose ownership has not, as this has no effect on the establishment of ownership.
A3: The real estate, vehicles, and similar items that a company purchases for the purpose of using them, not for trading in them, are not subject to zakah. This applies equally to those whose ownership has been transferred and those whose ownership has not, as this has no effect on the establishment of ownership.
Source
www.alifta.gov.sa
The Arabic text is copied verbatim from the original source, without any edits.