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(SAU) About Zakat reporting

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Important

This content is archived and is not being updated. For the latest documentation, see Microsoft Dynamics 365 product documentation. For the latest release plans, see Dynamics 365 and Microsoft Power Platform release plans.

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

People of the Islamic faith whose annual earnings exceed a level called Nisab are legally obligated to pay 2.5 percent of their earnings to the government as Zakat.

Saudi companies of all types and companies owned by nationals of the Gulf Cooperation Council (GCC) that conduct business in Saudi Arabia must pay Zakat to the Department of Zakat and Income Tax (DZIT) at the end of the fiscal year. Companies must also generate and submit a set of 14 Zakat reports along with their balance sheet and profit-and-loss statement to DZIT within a month of year-end.

Microsoft Dynamics AX 2012 allows you to generate the required Zakat reports:

  • Zakat main report

  • Revenue for main activity report

  • Revenue from other activity report

  • Direct expenses report

  • Subcontractor report

  • Depreciations report

  • Consultation fees report

  • Provisions and reservations report

  • Investments report

  • Pre-setting up expenses balance report

  • Other expenses report

  • Other adjustments report

  • Other additions report

  • Other deductions report

See also

(SAU) Set up general ledger parameters for Zakat reporting

(SAU) Set up a report name, item code, and asset group for Zakat reporting