Tuesday, 02 January 2024 12:17 GMT

Zakat Department Provides Year-Round Service For Calculating Corporate Zakat


(MENAFN- The Peninsula) The Peninsula

Doha, Qatar: The Zakat Affairs Department at the Ministry of Awqaf and Islamic Affairs continues to provide a dedicated service for calculating Zakat on local companies, ensuring businesses meet their religious and social obligations in line with Islamic Shariah.

The service allows companies to submit their annual financial statements, which are carefully reviewed to determine the exact Zakat due. Once the assessment is completed, the administration issues an official letter to the company specifying the amount payable.

Head of the Research and Studies Division at the Zakat Services Department Dr. Issa Nasser Al-Sayed, confirmed that this free service is available throughout the year. He revealed that since the beginning of 2025, the administration has calculated Zakat for more than 100 companies, including both sole proprietorships and joint-stock companies.

“The review process takes just two working days and includes a detailed breakdown of the Zakat base and total amount due. For listed companies, we also calculate Zakat per share to assist shareholders,” Dr. Al-Sayed explained.

He added that the administration recently issued an updated bulletin covering zakat ratios for 44 publicly listed companies on the Doha Securities Market, making it easier for investors and shareholders to fulfil their obligations.

As part of its outreach efforts, the Zakat Affairs field team has visited more than 112 companies since the start of the year to raise awareness about its services, encourage payment of Zakat, and highlight its role in fostering social solidarity and supporting development.

Dr. Al-Sayed emphasised that Zakat is a binding obligation on companies once its conditions are met.“Paying Zakat contributes to social security, brings blessings and growth in wealth, and supports the eight categories of beneficiaries outlined in the Holy Qur'an,” he said.

He also stressed that 100% of Zakat funds collected are distributed within Qatar, directed to eligible beneficiaries registered in the administration's database-the largest of its kind in the country.

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