Question
I work in an organization, where members of staff, when reaching the age of 67, receive pension. Members of staff pay a tax-free amount of money and the organization pays an amount of money. This situation continues until they reach the age of pension. If a member of staff wills to take some of it while he/she is between the age of 60 and 67, the tax that he/she was exempted from. Question: Should I pay Zakat on this money? If yes, is the amount paid as tax included? If the amount is increased by the bank where it is lodged, is it considered usury?
Questioner
Anonymous
Answered By
European Council for Fatwa and Research (ECFR)
Answer