Can Zakat Be Paid In Installments

Technical FAQ GAZT Value Added Tax. The invoices, books, records and accounting documents required to be maintained by a Person in accordance with the Agreement must be kept for a minimum period of six 6 years from the end of the Tax Period to which they relate. Records with respect to Capital Assets must be kept for a minimum of the Adjustment Period for these Capital Assets prescribed in article 5. Regulations, plus five 5 years, from the date those Capital Assets are acquired by the Person. Records must be kept in the Kingdom either physically or through an access to the relevant server where these records are stored. Do we have to pay zakat on the money invested. Rc4 Stream Cipher And Its Variants Pdf Reader. Encyclopedia of searchable Islamic Questions Answers Islamhelpline. Express Helpline Get answer of your question fast from real experts. Can Zakat Be Paid In Installments' title='Can Zakat Be Paid In Installments' />In cases where the Taxable Person opts to store the records electronically, the following conditions must be met a   The computer system or server must be physically located in the Kingdom. A Taxable Person who has a fixed establishment in the Kingdom may have its central computer outside of the Kingdom, provided it has with a terminal at the subsidiary in the Kingdom through which all data and entries regarding the account of the fixed establishment in the Kingdom can be accessed. Data entered into the computer system must be in Arabic and must be an identical copy of said books. Original supporting documents for all entries in accounting books must be kept locallyd  Final accounts and balance sheet may be generated directly by computer. In the case of using a conventional accounting method with computer assistance for some account items, all settlement entries must be provided in Arabic. The Taxable Person must document computer data entry and processing system of accounting entries for reference, when needed. Can Zakat Be Paid In Installments' title='Can Zakat Be Paid In Installments' />The Taxable Person must have necessary security measures and adequate controls, which can be reviewed and examined, to prevent tamperingg   The Authority may review electronically the systems and programs applied by the Taxable Person to prepare its computerized accounts.