Current gold/silver price

Please enter current base price per 1 g silver

Please enter current base price per 1 g gold (21 carat)

Zakat on cash/bank balances (2,5%)

Cash

Money in savings accounts

Money on current accounts

Zakat on credits/loans, investments, funds, shares, etc. (2,5%)

Outstanding loans and repayments of friends and relatives

Investments in government bonds

To date, contributions made to the pension reserve (provident fund)

Previous insurance premiums including bonus payments

Share value, including dividends. Only market value counts at the time of calculation.

Securities, certificates of deposit, etc.

Investments in private loan programs, funds, etc.

Other sources of wealth


Zakat on owned property (2,5%)

Land ownership as an investment/business (estimated current market value)

Zakat on rental income (after deduction of all expenses)

Zakat on trade goods (2,5%) (inventories)

Value of the marketable stocks

Value of the damaged/unsaleable stocks

Outstanding amount of target purchases

LESS: Sum that must be paid to the suppliers

LESS: Unrecoverable receivables

Stock value total

Zakat on entrepreneurial partnership interests (2,5%)

Capital stock according to the last balance sheet

Personal granted loans (for the company)

LESS:. Private withdrawals in the current year

Profit carried forward from the date of the balance sheet until today

Calculated total value (net)

General liabilities

To be substracted are the direct liabilities that haven´t been yet deducted above. Only loans that were recorded for the zakat assets are deducted. Mortgages and loans to finance a vehicle shall not be deducted.

Private loans/liabilities that must be repaid

Payable income tax/wealth tax

Total liabilities

Zakat on gold (2,5%)

Weight in grams Price per gram Estimated worth
Gold/jewelry - 24k
Gold/jewelry - 22k
Gold/jewelry - 18k
Other valuables of gold

Zakat on silver (2,5%)

Weight in grams Price per gram Estimated worth
These include household utensils, objects and jewelry made of silver.

Calculate zakat on gold, silver, and money

Please press calculate to compute zakat considering the nisab:

Current nisab silver/money:

Current nisab gold:

Total assets Payable zakat
Total value of money:
Total value of gold:
Total value of silver:

Zakat on agricultural products (10%; 7,5%; 5%) Do not fill until a total harvest of 653 kg!

From rainwater dependent products (crop), product value:

Made entirely by artificial irrigation-dependent products (crop), product value:

Partly of rainwater and partly by artificial irrigation dependant products (crop), product value:

Zakat on animals

Please consider the instructions

Grand total

Payable zakat:

£

Notes for the calculation

1. Zakat on cash and bank balances

Zakat is 2,5% of the cash reserve and bank balance (savings account, giro account etc.) The amount should, strictly speaking, be one lunar year on the account, respectively in your possession. As a rule, the money on account changes. The amount is to be determined after best discretion. Best way is to pay the zakat on the amount at the appointed date.

2. Zakat at given loans etc.

Under the obligation of zakat are loans which are granted to friends and relatives. These loans are to be regarded as cash. The loans, which have to be payed by oneself are to be deducted. The net amount is under the obligation of zakat. If you are not sure if you are going to get the money back, it must not be counted as assets. It can added to assets as soon as the money is received.

Under the obligation of zakat are all state securities, municipal loans, payed insurance premiums, contribution to provident funds, short-term government securities etc.

3. Zakat on owned property

Zakat will not be payed on the own residential house, even if they are several houses, as long as those are used to residential purposes. Zakat is also not obligated of own property, if it is rented. At this point the amount of properties also does not count. The income from rent is under the obligation of zakat after distraction of administrative and other expenses.

If you intend to sell those properties gainfully or as an investment, then you have to pay the zakat on the market value. Also you have to pay the zakat, if you change your intention during the course of the year and change the private utilization to a commercial one.

4. Zakat on trade goods

This apply only to professionals. The zakat has to be payed, independent of the business segment, to the whole TRADING STOCK. The value of the trading stock will be determined after the acquisition price. If there are bills receivable, (purchase on credit), must them be added to the calculation.

The amounts which must be payed to the purveyor and the payments for the storage of the goods at the appointed date must be deducted. Unsalable stocks have to be calculated to the terminal value, respectively to the deductible value. The value of damaged goods should also be determined after the terminal value.

The zakat is not due to operational buildings or machines, but should be payed upon the manufactured goods (the value of the finished product). At detail questions a competent scholarly person should be consulted.

5. Zakat on entrepreneurial partnership

Zakat can be payed from the company OR from the member of a company. If the company as a whole do not pay and a member of the company wishes to calculate his/her part, is the capital share and the loan share according to the last balance sheet to be used. The estimated share in profits is to be calculated for the time frame until the appointed date of the calculation.

This amount can only be estimated, since it is difficult to calculate the exact profit or loss before the end of a fiscal year.

6. Discount of liabilities

If you owe the government at the time of the calculation taxes, they can still be deducted before the net amount is determined. If you have taken out a loan at a person or institution and the amount not deducted above, the liabilities can be deducted at this point.

Only loans that were recorded for the obligated assets shall be deducted. Cars, houses, etc. are not included into the zakat obligation assets. Loans/mortgages that were taken for these purposes are, therefore, not be deducted.

7. Zakat on pure gold and gold jewelry

The zakat is 2,5% of the market value applicable on the respective reporting date (in our case the 1st Ramadan). Most scholars prefer the current market value and not the purchase price.

8. Zakat on silver

Pure silver, jewelry, utensils, decorative objects and household items including crockery and cutlery made of silver are under the obligation of zakat. 2,5% of the current market value will be calculated.

9. Exceeding the Nisab

Nisab is understood as the threshold to raise Zakat. Nisab defines the minimum on wealth, from where the obligation to pay Zakat begins. The Zakat threshold differs among the various assets (money from a wealth of 595 g silver value , gold from 85 g 21 carats, silver from 595 g, agricultural products ect. from a harvest of 653 kg) and is to be determined for each asset type. In order to identify nisab in Gold and silver, the cash will be calculated to the gold and silver. Paying zakat will be obligatory when the respective nisab is exceeded.

10. Zakat on agricultural goods

Agricultural products including fruit, commercially grown flowers, vegetables and grains are all under the obligation of zakat at the time of harvest. The end of one year as a calculation factor does not apply to agricultural products. If it can be harvested on the same agricultural area several times a year, then zakat must be paid according to the number of harvest, the time does not matter.

The zakat will be calculated in agreement like:

10% on the products from plants that are solely dependent on rainwater, and 5% on products from plants that are irrigated (canals, reservoirs, boreholes, open wells, etc.). For plants that are partly irrigated partly with rainwater, 7.5% of the products are under the obligation of zakat.

11. Zakat on animals

On grazing animals such as goats, sheep, cows, camels, horses, the Zakat is paid depending on the species (e.g. at sheep, the Zakat is sheep). Instead, the corresponding value of the money can be paid. Only grazing animals with the intention of reproduction are subject to the obligation of Zakat.