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  Determination
of Zakat Base : For Books and RecordsFor zakatpayers with books and records, Zakat Base is determined as follows: a. Adjustments to book result : Net profit (loss) per books, additions to book result: - Reserves formed during the year of audit - Social Insurance paid abroad - Fixed assets depreciation differences - Expenses not related to the activity - Zakat or tax paid and charged to accounts Net profit as adjusted for zakat purposes b. The following items are added to net profit (loss) as adjusted for zakat purposes : Paid-up capital, Additions to paid-up capital: - Balances of all provisions and reserves that completed one year, with exception to depreciation provision (not added). - Prior years’ profits carried forward (if any) - Loans used to acquire/finance fixed assets or investments - The owner’s/partner’s credit current account - Retained profits for distribution (If any) The year’s adjusted net profit Total items included in zakat base Deductions: - Fixed assets net value - Carried over loss as adjusted by DZIT - The year’s loss as adjusted - Pre-setting up expenses balance - Entity’s construction in progress - Investments in other entities that were subject to zakat at these entities - Investments in the Kingdom’s government bills (average of 12 months) Zakat base Payable zakat is 2.5 percent of zakat base     |
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Brief Information on DZIT
