Q: I purchased goods from India to sell in South Africa. Must I give zakaat on the cost price at which I purchased these goods?
A: You have to give zakaat on the market value of the goods in South Africa.
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Calculating Zakaat on Imports
Answered as per Hanafi Fiqh by CouncilofUlama.co.za
Short Link: https://islamqa.org/?p=50970
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This answer was collected from CouncilofUlama.co.za, which is operated under the supervision of Council of Ulama Eastern Cape, South Africa.
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ZakaatRelated Q&A
- When calculating Zakaat what value of company shares should be used? i.e. current value or purchase price as values do change drastically
- Is Zakaat payable on stolen goods?
- Zakaat On Investments
- I purchased a property but I am still not sure if I am going to keep it or sell it. Do I pay Zakaat on it?
- Zakaat on Dead Stock
- Fatwa - Calculation of Zakaat