Zakat M. Value added tax or vat is an indirect tax imposed on all goods and services that are bought and sold by businesses with a few exceptions. Its objective is to undertake its operations purely with the intent of bringing socio economic transformation in the lives of the people without seeking to generate any commercial surplus.
Zakat is a religious obligation ordering all muslims who meet the necessary criteria to donate a certain portion of wealth each year to charitable causes. Zakat is an obligatory act ordained by allah the glorified and exalted to be performed by every adult and able bodied muslim. Camels cattle sheep and goats.
Zakat is a religious obligation ordering all muslims who meet the necessary criteria to donate a certain portion of wealth each year to charitable causes.
زكاة zakāh that which purifies also zakat al mal zaˈkaːt alˈmaːl زكاة المال zakat on wealth or zakah is a form of alms giving treated in islam as a religious obligation or tax which by quranic ranking is next after prayer in importance. It is only for those who are able to and meet the criterion. Value added tax or vat is an indirect tax imposed on all goods and services that are bought and sold by businesses with a few exceptions. Zakat the third pillar is given once a year at 2 5 percent of a person s surplus wealth from the last 12 months.
