Q: Is a limited company an independent entity in Islam and therefore liable for its own Zakat or does its value belong to the shareholders?
الجواب حامدا ومصليا ومسلما ومنه الصدق والصواب
A: The liability to pay zakat falls on the shareholders and not the company itself. If taxes have been incurred on the zakat anniversary they may be deducted from one’s zakat liability. If taxes are contingent upon a future event they cannot be deducted.