X
Knowledge

Have a question?

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

Related Articles

Related Videos

Ask a Question

Want to ask us a question? If our FAQs don’t have the answer, fill in this form and we’ll get back to you.