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Zakat Percentage According to Article 15 of the Regulations, the zakat percentage is 2.5% if the zakat year for the zakat payer holding statuary accounts is Hijri year. If the zakat year for the zakat payer differs from the Hijri year, the zakat percentage is calculated by dividing 2.5% over the number of days of Hijri year multiplied by the actual number of days of Zakat Payer’s Zakat Year as per the following equation: Percentage of Zakat = (2.5% ÷ number of days of the Hijri year) x number of days of the fiscal year of the Zakat Payer The zakat year for a Zakat payer may differ from the Hijri year in several cases. In such cases, zakat must be calculated according to the Zakat percentage based on the actual number of days. The detailed cases related to this will also be reviewed in paragraph (4.4.2) of this guide. The difference between the zakat year and the Hijri year Hijri Year The zakat percentage for the year is calculated as follows: Actual number of days in a year 354 days X Zakat Percentage is A Saudi company submits its zakat declaration based on its Gregorian financial year of 365 days. What zakat percentage should be used? The solution: A Saudi company submits its zakat return based on its Gregorian financial year of 365 days. What zakat percentage should be used? 354 days X 365 Days = 2.5777% A Saudi company submits its zakat declaration based on its first Gregorian financial year, which runs from November 1, 2024, to December 31, 2025. What zakat percentage should be used? The solution: Since the actual number of days in the year is 426, the zakat percentage should be calculated as follows: Number of Actual Days in the Financial Year, The result is as follows 354 days X 354 days X 426 Days = 3.0085% Number of Actual Days in the Financial Year, The result is as follows 354 days X Example (19) Example (20) 3.4.9 Approved Financial Reports The calculation of the zakat base for a zakat payer holding statuary accounts is based on the zakat payer's financial statements and the classifications and categorizations of items therein. Therefore, as stipulated in Article 9 of the regulations, applying the standards endorsed by the Saudi Organization for Chartered and professional Accountants regarding the terms, accounting treatments, and financial reports submitted to the Authority, unless otherwise stipulated in the Regulations, or relevant laws, regulations, and rules. The Authority may amend the data of Zakat Payers in the event that said data contradicts the accounting standards endorsed by the Saudi Organization for Chartered and professional Accountants regarding the classification and indexing. As a result, the Authority has the right to amend the financial data submitted by the Zakat payer if such data contradicts the accounting standards approved by the Saudi Organization for Chartered and professional Accountants. This may result in the reassessment of the Zakat payer’s based on the correct accounting treatments. Examples includes, but are not limited to: Errors in classifying an item as current or non-current. Errors in recognizing accounting revenue. Errors in calculating certain items or transactions in the financial statements. The aforementioned examples are non-exhaustive and represent some of the errors that may occur in applying the approved accounting procedures or standards, which may lead the Authority to correct the treatment of the item or transaction for zakat calculation purposes. This emphasizes the importance for Zakat payers to verify their compliance with the correct accounting treatments in accordance with the approved standards.