Zakat, Tax and Customs Authority (ZATCA) urged individuals to give Zakat “optionally” via “ZAKATY” App or website (zakaty.gov.sa) through secure bank payment methods, or through “SADAD” and “Apple Pay”.
“ZAKATY” features calculation of the amount due as Zakat for all types of funds and possessions, including money, gold, silver, shares, investment funds, real estate, etc., stated ZATCA, noting that “ZAKATY” issues an invoice for the transaction, reminds users of the Zakat dates, as well as uses a specific algorithm to calculate the amount due as Zakat for gold according to its purity.
ZATCA pointed out that “ZAKATY” Service is linked to the international gold and silver prices, and that, after linking with Tadawul, users can figure out the shares’ and investment funds’ prices by clicking on the name of the share or the fund.
“ZAKATY” was launched based on the fatwas issued by the Permanent Committee for Scholarly Research and Ifta, underlined ZATCA, and is supervised by Zakat jurisprudence and accounting specialists in order to urge individuals to pay Zakat through highly efficient and flexible channels with a view to delivering the Zakat collected amounts to the eligible beneficiaries through HRSD’s Social Security.
It is noteworthy that over the course of the past year, “ZAKATY” witnessed a rise in interaction and the number of the App downloads due to the success realized by the Service thanks to the user-friendly design and the fast, secure and reliable payment methods.