Towards A Unified Zakat System

accumulated depreciation) should be deducted from the abovetotal. Also all accumulated losses should be deducted toarrive at the Zakat base. Net assets have to be free of anydebt carried to finance these assets. In case such debtexists, these debts should be added back to the base,otherwise double counting will occur. Based on the above,the Zakat pool can be determined as follows.Zakat base, using the indirect methodZb= 2.5% {[ Pcn1 + Pal + Reno + RS ± S ± I+ Bl ]-[ Nfan1] (12)Where:PcnlPnlRpnoRsS,IvBlNfanl= Paid in capital (end of the period)= Profit for the year= Retained profit at the (bingeing of the period)= Reserves at the end of period= MV of stock - BV of stock (+ if the MV > BV; -if the MV < BV)= MV of I - BV of I (+ if the MV > BV; -if the MV < BV)= Bank loan= Net fixed assets at the end of yearIllustrativeexample:In order to further understand the above two methods, thefollowing illustration is now introduced.147