Tax
Zakat Provision (Saudi Arabia/GCC)
Accruing the estimated Zakat liability for a company operating in the GCC.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Zakat Expense | Expense (+) | 15,000.00 | - |
| Zakat Payable | Liability (+) | - | 15,000.00 |
💡 Accountant's Note
Zakat is calculated based on the Zakat base (equity, provisions, and long-term liabilities). This is essential for companies like alfanar.
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