What should I do regarding the zakat on books offered for sale in my library?
A library that includes books for sale is subject to on trade goods. Zakat is calculated by evaluating the books and tools intended for sale after a full year has passed since their purchase. If their value reaches the (minimum threshold) by themselves, or by combining them with cash or other trade goods, then zakat of one-quarter of one-tenth (2.5%) is to be paid. The nisab is equivalent to the value of 85 grams of pure gold or 595 grams of pure silver. The premises, the car used for transporting books, or shelves, chairs, tables, and similar tools not intended for sale, or books not designated for sale, are not included in the zakat calculation.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
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- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
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