Abstract:There has been an increasing need for principle-based financial reporting standards of Islamic Financial Institutions (IFIs) including business zakat reporting. In meeting the requirement of the shariah governance framework, business zakat computation is one of the aspects that must be disclosed and presented by IFIs on the face of their financial statements. The disclosure is vital in further promoting transparency and continuous development of IFIs within the tax and zakat environment. The objective of this … Show more
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