MIRA - Maldives Inland Revenue Authority

What is ZAKAT AL-MAL?
Zakat Calculator
Zakat al-mal Updates
Forms and Guides
Laws and Regulations
Tax Rulings
Announcements
Circulars

Flyers and Brochures

Collection of Zakat al-mal

Effective 1 June 2016, zakat al-mal is collected at MIRA. MIRA 510 form, which is available on our website, is to be used for the payment of zakat al-mal. In addition to the Taxpayer Service Centre, zakat al-mal can also paid at one of the branches or collection centres of MIRA established outside Male’ City. If an island does not have a MIRA office, zakat-al mal can be paid at the Secretariat of the Local Council of that island. Even though zakat al-mal is collected at MIRA, zakat al-fitr continues to be collected at Ministry of Islamic Affairs.

Zakat Calculator

If you have a query regarding the computational or religious aspect of zakat al-mal, please contact Ministry of Islamic Affairs on 800 300 8901. For queries related to collection of zakat al-mal at MIRA, please contact us through our hotline 1415.

Select Currency
MVR (Maldivian Rufiya) USD (US Dollar)
Money ⓘ Zakat should be paid at 2.5% on all cash balance and bank balances in your savings or current accounts. This amount technically should be in the bank for one year. Usually it happens that the balance keeps on changing as per personal requirements, You may make your best judgement and the best way is to pay on remaining amount on the day of calculation
Cash in Hand
Cash at bank Accounts
Gold (Value) ⓘ Zakat should be calculated at 2.5% of the market value as on the date of valuation. Most Ulema favor the Market value prevailing as on the date of calculation and not the purchase price
Gold
Silver (Value) ⓘ Zakat is to be paid on Silver in pure form or jewelry, utensils, decorative items and all house hold items including crockery, cutlery made of silver at 2.5% of the prevailing market rate
Silver
Investments ⓘ Zakat can be paid EITHER by the firm OR separately by the owners. if the firm is not paying and the partner wants to calculate his share, he should take the amount standing to his capital and loan account as per the last balance sheet. Add his estimated share of profit till the date Zakat is calculated. This can only be estimated as it is difficult to calculate the exact profit or loss between an accounting year
Shares
Other Investments
Business ⓘ This is for business persons only, No matter what business you are into, you've got to pay Zakat on all STOCK-IN-TRADE. the stock must be valued at its landed cost price. if you have any bills receivable (sales given on credit) then you need to add the same towards calculation
Business Cash
Goods / Stock
Others ⓘ Zakat is payable by you on loans you have given to your friends and relatives. it should be treated as Cash in Hand. You may deduct loans payable by you to arrive at the net present value of your wealth. However if you are in doubt on the return of your money, then you may not calculate it as your wealth. You can add it to your wealth if and when you receive the money
Loan to Family and Others
Other Assets
Payables ⓘ If you have any pending tax payable to MIRA as of the date of Zakat Calculation, then the same may be deducted before arriving at the net worth. If you have taken any loans from any person or institution, and if you have not already deducted the same amount from any of the above sections, then you can deduct your payables over here. Please be truthful, as Zakat is a sure way of protecting ones wealth if Zakat has been paid on it regularly and fully. Loans taken only for Zakatable-Wealth should be deducted. Cars, Houses, etc are not Zakatable wealth. so any loan/mort-gate taken for these purposes are not to be deducted
Credit Card Payments
Home Payments
Business Payments
Vehicle Payments
Debts

Zakat Payable
Nisab (Maldivian Rufiyaa)		4861.15 MVR
Net Worth
Zakat Due

Zakat al-mal Updates

Collection of Zakat al-mal

Zakat Calculator

Zakat al-mal Updates

Forms

Guides

Laws

Regulations

Tax Rulings

Announcements

Circulars

Flyers And Brochures