- In this case, zakat is calculated at 2.5% of the value of all shares plus dividend and current balance of the Trust Account, minus the outstanding financing amount (which is obtained for the purpose of buying shares, if any) and transaction costs.
- If various shares are purchased on different dates, payment date for zakat is subject to completion of haul of the respective shares.
- Example:
Date of purchase of shares X 10 Jan 2020 Haul Haul has been reached Number of shares owned 100,000 units Value per unit share RM1.30 (price reference shall be subject to zakat authorities e.g. at the end of Haul or lowest price in the period of Haul) Dividend received Dividend is RM 0.01 per share x 100,000 units of shares= RM 1,000.00 Current balance of Trust Account RM 10,000 Transaction Costs RM 300 Zakat on shares X payable:
= (RM1.30 x 100,000 units) + RM 1,000 + RM 10,000 – RM 300.00
= RM140,700 x 2.5%
= RM 3,517.50
Zakat is payable subject to meeting applicable nisab requirement of respective zakat authorities.
Reference: Zakat Saham