Payment of Zakat on Business Using Stock and Goods:A Preliminary Analysis
Zakat is one of the obligations on every Muslim with the aim of helping those who are poor and needy while at the same time purifying the wealth and soul of the contributor. There are several types of zakat and one of them is zakat on business. In discussing Shariah issues related to zakat on business, one of the topics discussed is the method of payment of zakat on business, whether paying with money, stocks or business goods or a choice between the two. In view of the need to pay zakat other than using money, especially in the case of companies which have a shortage of cash and excess unsold merchandise, the study was conducted to obtain information on the debate of scholars on the Shariah rule for payment of zakat with goods, and their potential for application in business zakat payments, in addition to the challenges and constraints in its implementation. The study utilized a comprehensive library study, analyzing the arguments and scholars’ discussions related to the subjectand selecting the preferred opinions. The findings showed that in terms of the payment method for zakat on business, some scholars viewed that the payment of business zakat must utilise money, while some stated that the payment must be in the form of goods and stocks of the business itself, while some others stated that the payment of zakat on business is the right of the contributor to choose from money or goods and stocks. The study also found that there were several issues and challenges in the implementation of zakat payments using business goods, including the existing fatwa on zakat on business that stipulated only money would be accepted as zakat payment and it must be paid to zakat authorities. The study also aimed to determine the type of goods to be accepted as business zakat payments, the method of zakat calculations on the goods and whether it should be at original cost price, current market price or premium or discount, and other issues.