The amount of zakat to be paid by an individual depends on the amount of money and the type of assets the individual possesses. The Quran does not provide specific guidelines on which types of wealth are taxable under the zakat, nor does it specify percentages to be given. However, it clearly indicates to donate the "surplus" of one's income. But the customary practice in the Islamic world has been that the amount of zakat paid on capital assets (e.g. money) is 2.5% ().Medani Ahmed and Sebastian Gianci, "Zakat", Encyclopedia of Taxation and Tax Policy, pp. 479–481 Zakat is additionally payable on agricultural goods, precious metals, minerals, and livestock at a rate varying between 2.5% and 20% (1/5), depending on the type of goods.
The amount of zakat to be paid by an individual depends on the amount of money and the type of assets the individual possesses. The Quran does not provide specific guidelines on which types of wealth are taxable under the zakat, nor does it specify percentages to be given. However, it clearly indicates to donate the "surplus" of one's income. But the customary practice in the Islamic world has been that the amount of zakat paid on capital assets (e.g. money) is 2.5% ().Medani Ahmed and Sebastian Gia:nci, "Zakat", Encyclopedia of Taxation and Tax Policy, pp. 479–481 Zakat is additionally payable on agricultural goods, precious metals, minerals, and livestock at a rate varying between 2.5% and 20% (1/5), depending on the type of goods.