6.5 Zakat and Other Levies

Zakat, an Islamic charitable levy, is applicable to Muslims with eligible wealth. The government administers mandatory Zakat collection on certain assets, including bank deposits and shares. Other levies include stamp duties, property taxes, and excise duties on specific goods like tobacco and alcohol. To support economic growth, the government periodically introduces sectoral tax reliefs and incentives for industries such as manufacturing, export-oriented businesses, and IT. Additionally, companies operating in Special Economic Zones (SEZs) enjoy extended corporate tax holidays and reduced VAT obligations to attract foreign investment.