Is zakah paid based on the value at the time of payment?
Machine translationRead the Arabic original
Question:
Regarding the zakah on gold, do I pay it based on the original amount I paid for it? Or based on the amount it will be worth when the zakah is paid?
Answer:
Zakah is paid on trade goods based on their value at the time of payment, not based on the purchase price.
If a man buys land for ten thousand for trade, and when the lunar year is completed it is worth twenty thousand, he pays zakah on twenty thousand. Likewise, if he has vessels for trade, or cars for trade, that he bought for fifty thousand, and when the lunar year is completed they are worth one hundred thousand, he pays zakah on one hundred thousand. So the consideration is the value at the time of paying the zakah. Yes.
The presenter: May Allah reward you with good.
Regarding the zakah on gold, do I pay it based on the original amount I paid for it? Or based on the amount it will be worth when the zakah is paid?
Answer:
Zakah is paid on trade goods based on their value at the time of payment, not based on the purchase price.
If a man buys land for ten thousand for trade, and when the lunar year is completed it is worth twenty thousand, he pays zakah on twenty thousand. Likewise, if he has vessels for trade, or cars for trade, that he bought for fifty thousand, and when the lunar year is completed they are worth one hundred thousand, he pays zakah on one hundred thousand. So the consideration is the value at the time of paying the zakah. Yes.
The presenter: May Allah reward you with good.
Source
binbaz.org.sa
The Arabic text is copied verbatim from the original source, without any edits.