Search results
Results From The WOW.Com Content Network
The General Authority of Zakat, Tax, and Customs (ZATCA) (Arabic: هيئة الزكاة والضريبة والجمارك) is a government agency under the Ministry of Finance in Saudi Arabia that is responsible for the assessment and collection of taxes and zakat, a form of obligatory almsgiving in Islam.
Iranian National Tax Administration (INTA) [6] 4 Lebanon: Ministry of Finance: 5 Morocco: Ministry of Economy and Finance: 6 Saudi Arabia: Zakat, Tax and Customs Authority: 7 Tajikistan — 8 United Arab Emirates: Federal Tax Authority: 9 Bangladesh: National Board of Revenue (NBR) 10 Egypt: Egyptian Tax Authority: 11 Iraq: General Authority ...
Note 1] The Quran does not provide specific guidelines on which types of wealth are taxable under the zakat, nor how much is to be donated, and Islamic scholars differ on how much nisab is and other aspects of zakat. [16] However, the amount of zakat paid on capital assets (e.g. money) and stock-in-trade and jewelry is customarily 2.5% (1/40). [8]
[8] [9] It is a mandatory charitable contribution, often considered to be a tax. [10] [11] The payment and disputes on zakat have played a major role in the history of Islam, notably during the Ridda wars. [12] [13] [page needed] Zakat on wealth is based on the value of all of one's possessions.
The taxes stipulated by Islamic law generally did not generate enough revenue even for the limited expenditures made by pre-modern governments, and rulers were forced to impose additional taxes, which were condemned by the ulema. [10] According to scholar Murat Çizakça, only zakat, jizya and kharaj are mentioned in the Buktasira.
In Pakistan Zakat is levied on sahib-e-nisab, i.e. a person who owns or possesses assets liable to Zakat under Shariah equal to or more than nisab, (about US $300, calculated according to the value of 612.32 grams of silver [6]). [1] There are eleven types of assets liable to Zakat "detailed in 1st schedule of Zakat & Ushr Ordinance 1980". [7]
The IZO was founded in late 2008 by the Government of Malaysia.In May 2007, the Hon. Dato’ Seri Syed Hamid Albar, Minister of Foreign Affairs of Malaysia, had tabled a resolution for the formation of the International Zakat Organization at the thirty-fourth session of the Islamic Conference of Foreign Ministers of the Organisation of the Islamic Conference in Islamabad.
These are the duties and authorities of the Iranian National Tax Administration (INTA): [32] [6] [33] [34] Undertaking all matters related to the implementation of the provisions of direct and indirect taxes and other taxes and all related steps, including identifying taxpayers, filing and preparing tax credentials, recognizing and claiming taxes, resolving tax disputes and collecting taxes in ...