A question about calculating and paying khums (a form of Islamic tax) from cash funds, specifically regarding an amount of 3.5 million Iraqi dinars.
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1 Answer
Peace be upon you. The amount of khums you need to pay from 3.5 million Iraqi dinars for investment in trade, according to Ayatollah Khamenei, is as follows: You can pay khums from already purified money or from other funds. If you pay it from the profits of the new year, you must also pay khums on that amount. However, if you pay it from the same money that is subject to khums or from money that is not subject to khums, you only need to pay the khums itself. For example, if the asset is worth 3,500,000 Iraqi dinars and you want to pay khums from cash, you have two options: First, you can pay 700,000 Iraqi dinars from purified money or money that is not subject to khums. Second, you can pay 700,000 from the profits of the new year, in which case you will also need to pay khums on that 700,000, resulting in a total payment of 840,000 Iraqi dinars. In some discussions, the term 'quarter' may be used, indicating that the resulting number is close to a quarter. Source: Ayatollah Sistani and Ayatollah Khamenei.