Zakaah of Trade Goods
Zakaah of Trade Goods:
Trade goods refer to anything allocated for trading purposes with the aim of making profit.
Zakaah on trade goods becomes obligatory only under the following conditions:
- The value of trade goods must reach the Nisaab evaluated in gold or silver.
- A lunar year must lapse upon the Nisaab.
Zakaah on trade good is to be appraised at the completion of the lunar year (when the value of one’s trade goods amounts to the Nisaab) by either gold or silver. When appraising the value of the Nisaab, it should be appraised according to the value that will be more useful to the poor. Then, one fortieth (2.5%) of the value is to be paid.
Nisaab of trade goods = 85 (Nisaab of gold) multiplied (X) by the price of gold at the time of giving Zakaah,
= 595 (Nisaab of Silver) multiplied (X) by the price of silver at the time of giving Zakaah.
So one whose trade goods equal the outcome of the multiplication of one of both previous equations or more, so they have reached the Nisaab and Zakaah on them becomes obligatory.