Is zakat obligatory on the money remaining after paying off debt from profits, and is zakat due on the principal or on the profits?

Religion does not negate the obligation of Zakat. Therefore, Zakat on money should have been paid annually and must be paid for the past years. Contracting companies have two situations regarding Zakat:

1. If their work is limited to building residences and real estate, Zakat is due on the total liquidity (profits or capital). 2. If their work includes buying and selling land and real estate, Zakat is due on the liquidity in addition to the real estate traded, which should be valued at market price on the day Zakat becomes due. Fixed assets (such as equipment, machinery, and vehicles) acquired for use are not subject to Zakat.