Provision and Distribution of Zakat following Islamic Shariah
Provision and Distribution of Zakat following Islamic Shariah
Regarding Zakat
Zakat is a specific property that is issued when the conditions set out following religious rules have been met, zakat can only be issued to 8 aznaf recipients of zakat. According to the language "zakat" means to grow, develop, fertile or increase.
The meaning of growing, developing, fertile or increasing indicates that issuing zakat as a reason for the growth and development of property, the implementation of zakat results in many rewards.
Zakat also comes from the word "Zaka" which means holy, good, blessing, growing, and growing. It is called zakat because, because it contains the hope to obtain blessings, cleanse the soul, and nurture it with various virtues (Fiqh Sunnah, Sayyid Sabiq: 5).
The sacred meaning here shows that zakat is a way to purify the soul from ugliness, falsehood, and purification from sins. In the Qur'an it is mentioned, "Take zakat from some of their wealth, with that zakat you cleanse and purify them" (QS. At-Taubah [9]: 103).
8 The Aznafgrouppaid
Zakatitself has the same rules as to whom zakat must be. In QS. At-Taubah verse 60, Allah provides that there are eight groups of people who receive zakat, as follows:
1. Fakir, those who have almost nothing so that they can not meet the basic needs of life.
2. Poor, those who have wealth but not enough to meet the basic needs of life.
3. Amil, those who collect and distribute zakat.
4. Mu'allaf, those who have just converted to Islam and need help to strengthen in monotheism and sharia.
5. My servant, a slave who wants to free himself.
6. Gharimin, those who owe for the necessities of life in defending their souls and izzah.
7. Fisabilillah, those who fight in the way of Allah in the form of da'wah activities, jihad and so on.
8. Ibn Sabil, those who run out of money on the journey in obedience to God.
Types of Zakat
In general, zakat is divided into two types, namely zakat fitrah and zakat maal. In more detail, this zakat maal has other types of zakat such as;
1. Zakat Income
Zakat earnings or also known as the obligatory zakat profession is part of the obligatory zakat maal incurred on the property are derived from income / regular income from employment not violate sharia (Qur'an Surah Al Baqarah verse 267, Regulation of the Minister Religion No. 52/2014 and the opinion of Shaikh Yusuf Qardawi). The standard nishab used is Rp 5.240.000, - per month.
As for how to calculate income zakat as follows:
Zakat issued = Total gross income x 2.5%
Example:
Income received every month is Rp 6.000.000, then zakat is obligatory. So the zakat paid is Rp 6.000.000 x 2.5% = Rp 150.000, -
2. Zakat on gold and silver
Zakat on gold, silver, and other precious metals is zakat imposed on gold, silver and other metals that have reached nisab and haul. Zakat on gold and silver is paid if a muzaki (person who pays zakat) has gold reaching a nisab worth 85 grams or silver with a nisab of 595 grams. The zakat rate to be paid is 2.5% of the gold or silver owned.
Here is how to calculate the gold / silver zakat:
2.5% x The amount of gold / silver stored for 1 year
Example:
Mr. A for 1 full year has 100 grams of gold stored, so Mr. A is obliged to pay zakat. If the current price of gold is Rp 622.000 / gram, then the gold is worth Rp 62.200.000. The gold zakat that Mr. A needs to pay is 2.5% x Rp 62.200.000 = Rp 1.555.000
3. Company zakat
The scholars participating in the First International Conference on zakat in Kuwait (29 Rajab 1404 H), analogized corporate zakat to trade zakat. This is because, from a legal and economic point of view, the activities of a company are based on trading or trading activities.
Therefore, in general, the pattern of payment and calculation of corporate zakat is considered the same as trade zakat as well as the nisab rate is equivalent to 85 grams of gold.
A company usually has property that will not be separated from three forms: First, property in the form of goods. both in the form of facilities and infrastructure and which are commodities of trade. Second, property in the form of cash that is usually kept in banks. Third, property in the form of receivables.
So what is meant by corporate property that must be zakat is the three forms of the property minus the property in the form of facilities and infrastructure as well as other urgent obligations, such as debts that are due or that must be paid at the same time.
Abu Ubaid (died 224 H) in Al-Amwaal states that:
"If you have reached the deadline to pay zakat (ie your business has lasted for one year, for example the business started in the month of Zulhijjah 1421 H and has reached Zulhijjah 1422 H), notice what you have, whether in the form of money (cash) or goods who are ready to be traded (supplies), then evaluate with the value of money and calculate your debts on what you have ".
From the above explanation, it can be seen that the pattern of calculation of corporate zakat is based on financial statements (balance sheet) by reducing the obligation on assets smoothly, or all assets (outside the facilities and infrastructure) plus profits, minus debt payments and other obligations, then issued 2 , 5 percent as zakat. While other opinions state that what is obligatory to pay zakat is only the benefit.
How to calculate company zakat:
2.5% x (smooth assets - short-term debt)
Example:
Company A has business assets worth Rp2.000.000.000, - with short-term debt worth Rp500.000.000, -. If the current price of gold is Rp622.000, - / gram, then the zakat nishab is worth Rp52.870.000, -. So that Company A is obliged to pay zakat on his company. Company zakat that needs to be paid as much as 2.5% x (Rp2.000.000.000, - - Rp500.000.000, -) = Rp37.500.000, -.
4. Zakat on trade
Zakat on trade is zakat issued from property, while business property is property or assets sold to make a profit. Thus, in real estate there must be 2 motivations: Motivation to do business (sold) and motivation to make a profit.
"Take zakat from some of their property, with that zakat you clean and purify them and pray for them. Lo! Your prayer is for them peace of mind. And Allah is All-Hearing, All-Knowing." (QS. At-Taubah: 103).
Commercial property subject to zakat is calculated from the smooth running of the business minus short-term debt (debt that matures only one year). If the difference from the asset is smooth and the debt has reached nisab, then the zakat must be paid.
The business zakat nisab is worth 85 grams of gold with a zakat tariff of 2.5% and has reached one year (haul).
Here is how to calculate trade zakat:
2.5% x (smooth assets - short-term debt)
Example:
Mr. A has business assets worth Rp 200,000,000 with short-term debt worth Rp 50,000,000. If the current price of gold is Rp 622.000 / gram, then the zakat nishab is worth Rp 52.870.000. So that Mr. A is obliged to pay zakat on his trade. Trade Zakat that Mr. A needs to pay 2.5% x (Rp 200.000.000 - Rp 50.000.000) = Rp 3.750.000
5. Zakat on shares
Zakat on shares is based on the agreement of the scholars at the First International Congress on zakat in Kuwait (29 Rajab 1404 H) that the proceeds from the profits of stock investments must be paid zakat.
Zakat on shares can be paid if the return on investment has reached nisab. The share zakat zakat is the same value as the maal zakat nisab, which is worth 85 grams of gold with a zakat rate of 2.5% and has reached one year (haul).
How to calculate zakat zaham is the same as how to calculate zakat maal, which is to use the following formula:
2.5% x Total property stored for 1 year
This time, BAZNAS provides convenience to investors in paying zakat through its shares. Currently, investors do not need to convert their shares into rupiah to pay zakat on the shares they own, now zakat can be paid to BAZNAS in the form of shares to the BAZNAS investor fund account.
Investors need to know if their total asset account has reached nisab or not. If already, then investors can calculate how much will be paid in the form of lot units with the following formula:
Nominal zakat in rupiah: (market price / sheet x 100 sheets)
See the review of the example of zakat calculation of shares below:
Mr. A for 1 year fully has a total asset account worth Rp 100.000.000. If the current price of gold is Rp 622.000 / gram, then the zakat nishab is worth Rp 52.870.000. So that Mr. A is obliged to pay zakat. Zakat maal that Mr. A needs to pay 2.5% x Rp 100.000.000 = Rp 2.500.000
How to calculate & transfer stock portfolio:
Mr. A has XXXX shares of 100 lots where the market price / sheet is Rp645, - (1 lot equals 100 pieces). The value of Mr. A's zakat in shares is Rp 2,500,000: (Rp 645 x 100 pieces) = 38.75 lots / rounding into 39 lots. For that, Mr. A must transfer his 39 lots of shares as zakat on shares.
6. Zakat reksadana
Zakat reksadana is determined based on the agreement of the scholars at the First International Conference on zakat in Kuwait (29 Rajab 1404 H) that the proceeds of investment profits must be paid zakat. Zakat reksadana can be paid if the return on investment profits has reached nisab. Nisab zakat reksadana has the same value as nisab zakat maal which is worth 85 grams of gold with a zakat tariff of 2.5% and has reached one year (haul).
How to calculate zakat reksadana is the same as how to calculate zakat maal that is using the following formula:
2.5% x Total property stored for 1 year
To facilitate muzaki in fulfilling zakat reksadana, BAZNAS works with INVISEE in providing facilities in fulfilling zakat, infaq and alms through mutual funds (sharia) on the BAZNAS website. This service has the advantage of a simple payment process because the whole process is done online, in addition to the potential growth of investment in the payment of zakat, alms and infaq done through Mutual Funds and the minimum value of payment of zakat, alms and infaq starting from Rp100,000.
The mutual fund product used for zakat itself is a shariah mutual fund, which is a mutual fund product that is managed based on or referring to the shariah principles in the capital market (POJK No.19 / POJK.04 / 2015).
7. Zakat rikaz
Zakat on found goods (rikaz) is zakat that must be issued for items found hidden in the ground, or commonly referred to as treasure. Zakat on found goods does not require either haul (long storage) or nisab (minimum amount to be subject to zakat obligations), while the zakat rate is one-fifth or 20% of the total property found. So every time you get a property of any size, it is obligatory to pay zakat of one-fifth of the total amount of the property.
The hadith that underlies the obligation to pay zakat is:
From Abu Hurairah ra, that the Messenger of Allah (may peace be upon him) said: ".. and on rikaz (obligatory zakat) one-fifth. - Sahih Hadith - Narrated by Bukhari
8. Zakat Fitrah
Zakat fitrah (zakat al-fitr) is zakat that is obligatory on every soul of both Muslim men and women who are done in the month of Ramadan to enter the time of futur (breaking the fast) on Eid al-Fitr as the hadith of Ibn Umar ra, "Rasulullah SAW obligated zakat fitrah one sha 'dates or one sha' wheat on the people muslim; whether slaves or free, male or female, small or large. He saw it ordered to be implemented before the people went out for prayer. ” (Narrated by Bukhari Muslim)
The scholars as Shaikh Yusuf Qardawi have allowed zakat fitrah to be paid in the form of money equivalent to 1 sha 'food price which if converted is Rp 40.000
reference: https://www.baznasjabar.org/
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