ABU DHABI // The Zakat Fund, a federal body established in 2003 to facilitate the obligatory annual charitable donation by Muslims, is to get new, permanent headquarters following a decree issued yesterday by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The new headquarters will help the fund provide better services that make it easier to fulfil the duty, as well as to increase awareness of the charitable duties of Muslims, the state news agency, WAM, reported.
Last year, the fund introduced automatic teller machines in malls and other public places to accept donations by cash, cheque or credit card, and in 2007 the fund became the first organisation that allowed Muslims to pay Zakat through their mobile phone. Donations can also be made through the fund's website.
Muslim adults who are financially able and Islamic companies are obliged to pay Zakat each year, generally calculated at about 2.5 per cent of net income. Contributions to the fund are redistributed through the UAE Red Crescent Society.
The Zakat Fund's office is currently located in the capital's Al Mushrif district.
talramahi@thenational.ae
What is double taxation?
- Americans living abroad file taxes with the Internal Revenue Service, which can cost hundreds of dollars to complete even though about 60 per cent do not owe taxes, according to the Taxpayer Advocate Service
- Those obligations apply to millions of Americans residing overseas – estimates range from 3.9 million to 5.5 million – including so-called "accidental Americans" who are unaware they hold dual citizenship
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- Unlike most countries, the US follows a citizenship-based taxation system, meaning that Americans must file taxes annually, even if they do not earn any income in the US.
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COMPANY PROFILE
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