Business liabilities
Video: Zakat on business assets & liabilities - Imam Abid Khan
You may consider certain short term and long term liabilities as deductible assets:
- The total value of rent, bills and salaries outstanding or overdue
- The total value of outstanding short-term commercial loans
- The next year’s noninterest portion of long term business debt
- The total value of goods purchased on credit
* Please note short term is less than 12 lunar months, and long term is more than 12 lunar months