The nisab of trade zakat is the same as the nisab of mal zakat, which is worth 85 grams of gold and has reached one year (haul). If the trade asset has reached the nisab, then 2.5 percent of the asset must be issued as zakat.
What is Zakat on Trade?
Zakat on trade is included in zakat mal or zakat on wealth. In this case, zakat is issued from commercial assets, which are assets that are traded with the aim of obtaining profit or profit. According to the National Amil Zakat Agency (Baznas), there must be two motivations in trading assets, namely for doing business or buying and selling, and motivation for profit.
Commercial assets that are subject to zakat are calculated from the amount of current assets and then deducted by short-term debt or debt with a maturity of no more than one year. If the difference between current assets and short-term debt reaches the nisab, then the person is obliged to pay trade zakat.
Current assets here mean all assets that can be converted or liquidated into rupiah within a short period of time. Current assets are different from long-term assets that cannot be converted or liquidated into cash within one year.
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Terms of Zakat on Trade
Before issuing trade zakat, Muslims need to know the terms and conditions under which an item can be traded. Here are the details:
- The goods owned are of one’s own choice and obtained through permissible means, whether it is through profit-making (muawadhah) such as buying and selling and renting, or through giving freely (tabarru’) such as gifts and wills.
- Goods that are intended to be traded from the beginning, because every action depends on the intention. Tijaroh or buying and selling is a practice, so there must be an intention to trade like any other practice.
- The goods owned are not included in the assets that are subject to zakaah, such as livestock, gold or silver, because according to scholarly consensus, there cannot be two obligatory zakaahs on one asset.
- The value of the item has reached haul or has passed one lunar year. If the value of the goods when purchased has reached or exceeded the nisab of 85 grams of gold, then the haul is calculated from the time of purchase of the goods.
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Nisab Zakat on Trade
According to the National Amil Zakat Agency (Baznas), the nisab of trade assets is worth 85 grams of gold and has reached one year or haul. If the trade assets have reached the nisab, then the zakat must be issued at 2.5 percent of the total assets.
How to Calculate Zakat on Trade
(Current Assets – Short-term Debt) x 2.5% = Zakat on Trade
Case example:
Nona has current assets worth Rp325 million with short-term debt worth Rp80 million. If the current gold price is Rp945 thousand per gram, then the nisab of trade zakat is Rp80,325,000. Thus, Nona is obliged to pay zakat on her trading business. The trade zakat that Nona is obliged to pay is 2.5% of current assets minus short-term debt, which is Rp245 million. The amount of 2.5% of Rp245 million is Rp6,125,000, meaning that the trade zakat that Nona is obliged to pay is Rp6,125,000.
Read also: Zakat on Income, What is it for?
How to Zakat on Trade at Dompet Dhuafa
You can also channel your trade zakat through Dompet Dhuafa, either directly submitted or channeled through the online donation platform on the donation.dompetdhuafa.org page. Through Dompet Dhuafa, the donations you give will be channeled to the poor in various forms, one of which is empowering people through five pillars, namely education, health, social, economic and cultural fields.