Journal of Islamic Economics and Finance Studies
Vol 5 No 1 (2024): JIEFeS, June 2024

Zakat vs Tax: A Maqasid Sharia Perspective

Pratama, Muhammad Rifky (Unknown)
Mukhlisin, Murniati (Unknown)
Azid, Toseef (Unknown)



Article Info

Publish Date
30 Jun 2024

Abstract

This study explores the comparison between zakat and tax within the framework of maqasid sharia perspective.  Specifically, this study compares zakat and tax in terms of how effectively each system fulfills the objectives (maqasid ) of sharia such as hifz al-mal (protection of wealth), islah (rectification), hifz al-nafs (salvation of the soul), and 'adl (social justice). It aims to evaluate the extent of the impact of zakat and tax implementation on wealth distribution, poverty elimination, and the establishment of a just economic structure. Through a comprehensive analytical approach, this study evaluates the contribution of each instrument towards the realization of these objectives. A qualitative approach and a thematic literature review is adopted to explore evidences related to zakat vs tax from a maqasid sharia perspective. The result shows that zakat proves to be an effective tool in supporting equitable wealth distribution and social safety, while taxes provide consistent funding for public services. However, challenges such as compliance, transparency and fairness remain a critical focus. This research provides important insights into how the implementation of zakat and tax can be optimized to achieve the desired balance within the maqasid sharia framework.

Copyrights © 2024






Journal Info

Abbrev

JIEFeS

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

Journal of Islamic Economics and Finance Studies (JIEFeS) is a peer-reviewed journal published twice a year, in June and December by the Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta, Indonesia. The journal accepts scientific articles in the form of research ...