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Vehicles on hire zakah

Mu' meneen Brothers and Sisters,

As Salaam Aleikum wa Rahmatullahi wa Barakatuh. (May Allah's Peace, Mercy and Blessings be upon all of you)

 

One of our brothers/sisters has asked this question:

As Salaam Aleikum wa Rahmatullahi wa Barakatuh

My question is regarding Zakat.

I have given vehicle on hire can you please tell me how to calculate Zakath on this issue.

Waiting for reply.

 

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Answer:

 

Vehicles on hire zakah

In the name of Allah, We praise Him, seek His help and ask for His forgiveness. Whoever Allah guides none can misguide, and whoever He allows to fall astray, none can guide them aright. We bear witness that there is none worthy of worship but Allah Alone, and we bear witness that Muhammad (saws) is His slave-servant and the seal of His Messengers.

 

If you own a vehicle or vehicles, and have given them unto hire, you are indeed liable to pay annual zakah of 2.50% on the market value of your vehicle/s.

 

For example, if you bought a vehicle/s for 10,000 two years ago to give it on hire, and the market value of that vehicle/s at the end of this calendar year is 7,000.00; absolutely regardless of what income you receive or dont receive from the hire, you would be liable to pay 2.50% of 7,000.00 as annual zakah for your asset (the vehicle/s in this instance).

 

Whatever written of Truth and benefit is only due to Allahs Assistance and Guidance, and whatever of error is of me alone. Allah Alone Knows Best and He is the Only Source of Strength.

 

Your brother and well wisher in Islam,

 

 

Burhan

 


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