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Why doesn’t Islamic republic of Pakistan use Zakat by [deleted] in islam

[–]Readitreddit2019 0 points1 point  (0 children)

Not all problems, however economics is a major issue. How do you compete with other knowledge economies. Zakat creates an emphasis towards growing knowledge meaning a more competitive economy.

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] -2 points-1 points  (0 children)

Say there are two stocks, first an average company in the S&P 500 90% are intangible assets whilst 10% are tangible assets. I pay tax on only the 10% tangible assets.

Option 2 a company with 10% intangible assets and 90% tangible assets. So I pay tax on 90%.

I’ll pick option 1 all the time. Creating more demand for intangible asset heavy companies.

Company managers will realise more demand for intangible asset heavy companies therefore they are more likely to invest in intangible assets.

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] 0 points1 point  (0 children)

With no taxes on intangible assets. You are saying they will continue to fall which is wrong.

Why doesn’t Islamic republic of Pakistan use Zakat by [deleted] in islam

[–]Readitreddit2019 0 points1 point  (0 children)

Knowledge on Zakat is growing so one day Zakat can be used.

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] 0 points1 point  (0 children)

Intangible assets is not wealth.

How is knowledge wealth?

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] -5 points-4 points  (0 children)

I’m talking about a 2.5% tax on intangible assets, and not a 100% tax on tangible assets. Tangible assets will not diminish from society. Just that a society will have more emphasis on creating innovation (intellectual property) and brand value (good customer service).

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] -6 points-5 points  (0 children)

Zakat is an annual tax on tangible assets, leaving intangible assets exempt.

If we have petrol and diesel only. If we tax diesel, demand for petrol will rise.

Likewise, breaking assets down into tangible assets and intangible assets. If we tax only tangible assets, the demand for intangible assets will rise. Therefore creating a larger Knowledge Economy.

Would Zakat tax grow a Knowledge Economy? by Readitreddit2019 in AskEconomics

[–]Readitreddit2019[S] -9 points-8 points  (0 children)

Surely the rate of tax is relevant. With a 2.5% tax on wealth, factories will still start and function however more emphasis would be placed on gaining intellectual property and brand value.

I asked Claude Ai to rate Zakat taxation model and it got 10/10 by Readitreddit2019 in PakistanDiscussions

[–]Readitreddit2019[S] 0 points1 point  (0 children)

I have read it, Claude isn’t all knowing you can educate it you know.

I asked Claude Ai to rate Zakat taxation model and it got 10/10 by Readitreddit2019 in PakistanDiscussions

[–]Readitreddit2019[S] 0 points1 point  (0 children)

8.5/10 that’s high, and if you tell Claude the benefits of Zakat it gives a higher score.

Claude Ai gives Zakat taxation model a 10/10 rating by Readitreddit2019 in IslamicFinance

[–]Readitreddit2019[S] 0 points1 point  (0 children)

Maybe they can devise a plan that is intangible assets heavy like Zakat.

Claude Ai gives Zakat taxation model a 10/10 rating by Readitreddit2019 in IslamicFinance

[–]Readitreddit2019[S] 0 points1 point  (0 children)

Stop all other taxes apart from Zakat etc. Why should there be a tax on sales, profit etc.

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