ZATCA Encourages Voluntary Zakat Contributions Using Zakaty Application

Riyadh, SPA – In a move to facilitate the process of Zakat payment, the Zakat, Tax, and Customs Authority (ZATCA) has made a public appeal for individuals to utilize the Zakaty smartphone application or access the service via zakaty.gov.sa. This initiative aims to simplify the calculation and payment of Zakat on a variety of assets including cash, precious metals like gold and silver, stocks, investment funds, and real estate intended for commerce. A notable feature of this service is its ability to remind users of impending Zakat deadlines and calculate the due amount on gold by assessing its purity level, integrating global market prices into its computations.

ZATCA Spokesperson Hamoud Al-Harbi highlighted the direct impact of these contributions on social security beneficiaries registered with the Ministry of Human Resources and Social Development. The funds collected through the Zakaty service are promptly allocated to designated groups via both the app and the website. Al-Harbi further emphasized the convenience and security offered by the service, which supports various reliable banking payment methods including SADAD, Apple Pay, Mada among others. This ensures not only the swift delivery of Zakat receipts to beneficiaries but also offers users the flexibility to choose from among those most in need such as impoverished families, widows, and prisoners' families.

Underlining the meticulous supervision by experts in both Zakat jurisprudence and accounting, Al-Harbi reassured that the service adheres to the highest standards of accuracy and reliability. Additionally, he pointed out an innovative feature for stockholders and investors; the ability to calculate Zakat based on current stock prices or investment funds. This was made possible after successfully integrating with the Saudi Stock Exchange (Tadawul), thereby streamlining the process for investors.

Moreover, Al-Harbi noted that while Zakat calculations can be performed in various currencies for user convenience, payments must be made in Saudi Riyals. This initiative by ZATCA not only simplifies the process of fulfilling one's religious obligations but also ensures that assistance reaches those in need promptly and efficiently.

With inputs from SPA