Taxation In Islam

Khums is an issue every practicing Shi'ah must deal with once a year. The need for an easy to understand, yet comprehensive guide has been felt for years. Especially now more than ever, with the financial complexities of our world today. This book hopes to fill that void, since its first publication in 1984. The most popular aspect of this book is the khums calculation form, which provides easy to use, step-by-step instructions on calculating your khums for the year. This 4th edition includes numerous revisions and expansions, including: the history and usage of khums during the time of the Prophet and Imams, the moral and political aspects of khums, updated examples and rulings, practical and common issues for those living in the West, frequently raised questions, and much more. The book also reflects rulings based on various prominent maraji' in order to cater to as many muqallidin as possible. Previous versions of this book have been well received, as well as prompting insightful feedback from communities around the globe. It has been reprinted in Iran and Pakistan, translated into various languages, has had excerpts published in magazines, has been incorporated in other publications, and has been the basis for countless other seminars, booklets, and calculation forms. Some overall topics and features include: - Discussing the Islamic economic system - Khums in the Qur'an and history - Defining khums, income, surplus, expenses, etc - Various rulings and common situations - The distribution of khums - Some thoughts on khums and society - Calculation forms and guidelines Be sure to also check out the seminar and Q&A session on Khums, by Sayyid Muhammad Rizvi. It covers: - The meaning behind the concept of Khums - Items upon which khums is wajib - When do you pay khums? - What is surplus? What is profit? What is income? - What is exempt from khums? - What are savings? - What are allowable expenses? - What to do with debt? - Insurance premiums - Registered Retirement Savings Plan (RRSP) - Registered Education Savings Plan (RESP) - Tax Free Savings Account (TFSA) - Private Company Pension Plans - Life Insurance (Whole and Term) Premiums - Critical Illness Insurance Premiums - Saving for the future - Child allowance - Saving for a home - Home equity - Dowry - Unused items - Gifts - Business inventory and property - Division of Khums - Q&A session

Islamic Wealth Taxation and Financing Public Health is an eye-opening and thought-provoking book that boldly explores new possibilities for funding public health initiatives in countries where Islam isn't the predominant religion. In this case, Kenya serves as the focal point. Written by a Pan-African Muslim woman, this book is a must-read for anyone curious about innovative ways to improve public health without overburdening taxpayers. The author delves into the concept of zakat, an Islamic wealth tax, and investigates how it could be used as a source of revenue to boost public health in non-Islamic states like Kenya. By shedding light on the inner workings of the Kenyan legal system, the book highlights the importance of understanding local power dynamics, cultural and religious beliefs, and political structures when examining legal issues. It's a fascinating look at how different legal frameworks can come together to tackle complex challenges, which brings together insights from human rights law, Islamic law, and constitutional law, showcasing the potential for interdisciplinary collaboration in solving real-world problems. One of the reasons this book is so timely and important is its alignment with global development goals, such as the United Nations Sustainable Development Goals (SDGs), the African Union Agenda 2063, and National Development Plans. These initiatives all emphasise the need for countries to find new, local funding sources without overtaxing their citizens. Exploring zakat as a potential solution in Kenya is particularly interesting, given the country's influence in East Africa and the potential impact of such a development in the region.