Rafed English

Khums on Proceeds from the Sale of Shares

Q: I was a member and shareholder in a producing company affiliated to the Ministry of Cooperation. I was calculating and paying my khums every year to your Eminence’s representative / attorney. Now, I have sold my shares and made a settlement with the company? Is the money I received for that subject to khums?

A: If the money with which you bought the shares of the company was khums-paid, gifted, inherited, etc. i.e. was not subject to khums, after settlement and receiving it is liable to no khums. But, if you had bought them with the income earned during the khums year before paying their khums, shares selling price is subject to khums.

Share this article

Comments 0

Your comment

Comment description