Zakat and how it can transform Pakistan into a first world country

[PeterboroughAli]

From my research Zakat is payable only on tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.


So I asked two questions to figure out if intangible assets was wealth. First figuring out if intangible assets is not wealth then figuring out tangible assets is wealth.


Intangible assets is not wealth

If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.


Tangible assets is wealth

If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.


From my research Zakat is payable only tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.



So I asked two questions to figure out if intangible assets was wealth. First figuring out intangible assets is not wealth then figuring out tangible assets is wealth.



Intangible assets is not wealth



If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.



Tangible assets is wealth



If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.



What happens when we live in a Zakat system with correctly no Zakat payable on intangible assets. Investors crave intangible assets as no Zakat is due on them. The economy starts to produce more intangible assets through R&D(research and development).



Now it has been said to make a successful economy you need to improve the level of R&D that is conducted within it. With successful large economies still investing large amounts in R&D.

So will this make Pakistan into a first world country?

 

[Ali_Baba]

From my research Zakat is payable only on tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.


So I asked two questions to figure out if intangible assets was wealth. First figuring out if intangible assets is not wealth then figuring out tangible assets is wealth.


Intangible assets is not wealth

If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.


Tangible assets is wealth

If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.


From my research Zakat is payable only tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.



So I asked two questions to figure out if intangible assets was wealth. First figuring out intangible assets is not wealth then figuring out tangible assets is wealth.



Intangible assets is not wealth



If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.



Tangible assets is wealth



If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.



What happens when we live in a Zakat system with correctly no Zakat payable on intangible assets. Investors crave intangible assets as no Zakat is due on them. The economy starts to produce more intangible assets through R&D(research and development).



Now it has been said to make a successful economy you need to improve the level of R&D that is conducted within it. With successful large economies still investing large amounts in R&D.

So will this make Pakistan into a first world country?

More money wont fix the problem - Zakat wont fix problem if u are governed by crooks with no accountability ...

 

[SoulSpokesman]

Great R&D will certainly make Pak a first world country, with or without zakat.

Regards

 

[PeterboroughAli]

Great R&D will certainly make Pak a first world country, with or without zakat.

Regards

With Zakat it hears the nation towards R&D

More money wont fix the problem - Zakat wont fix problem if u are governed by crooks with no accountability ...

Zakat system can be transparent with Zakat only payable on tangible assets

 

[SoulSpokesman]

Pakistan already has zakat laws, no?

Regards

 

[PeterboroughAli]

Pakistan already has zakat laws, no?

Regards

It is only collected on bank deposits but not on tangible assets such as 2.5% on factories, cars, equipment etc.

 

[epebble]

So will this make Pakistan into a first world country?

Unlikely, as it has made no difference in any country. Only thing that matters is skill and talent of people.

Amazon.com

 

[Baburfromsarmarkand]

if we develop 6th gen planes, make semi condoctors that we export to China, Japan, USA, make cars that we export to other nations We can get to being a first works nation. Resource poor nations like us need to hustle. If we get a good leader I can see it all happening.

 

[Azadkashmir]

build gulag factory for criminals to work and payback to society, start with jenrails, politicians etc .

 

[Menace2Society]

if we develop 6th gen planes, make semi condoctors that we export to China, Japan, USA, make cars that we export to other nations We can get to being a first works nation. Resource poor nations like us need to hustle. If we get a good leader I can see it all happening.

Pakistan gave away all its export potential to China and India and even Bangladesh and its been doing this for decades.

 

[MastanKhan]

From my research Zakat is payable only on tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.


So I asked two questions to figure out if intangible assets was wealth. First figuring out if intangible assets is not wealth then figuring out tangible assets is wealth.


Intangible assets is not wealth

If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.


Tangible assets is wealth

If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.


From my research Zakat is payable only tangible assets and not payable on intangible assets. Zakat is payable on wealth, and I worked out intangible assets is not wealth. Intangible assets being intellectual property, brand value, how to design and manufacture a good or service.



So I asked two questions to figure out if intangible assets was wealth. First figuring out intangible assets is not wealth then figuring out tangible assets is wealth.



Intangible assets is not wealth



If there was someone who had average house average car and savings, who made the design for the latest tech product in there garage, and tweeted it and got lots of likes, people ready to buy. Just as they did this he completed the design and sent out tweet he died same day , would you say this person died wealthy or rich or average? The answer came back as average wealth even though there intangible assets were worth a lot. Which means intangible asset is not wealth.



Tangible assets is wealth



If there was someone who had a average house a average car and savings. However they accumulated lots of factories, trucks and equipment, in their lifetime. Just as this person did this they died, would you say this person died wealthy or rich or average? The answer came back as wealthy. So same scenario but with the accumulation of tangible assets people say the person is wealthy.



What happens when we live in a Zakat system with correctly no Zakat payable on intangible assets. Investors crave intangible assets as no Zakat is due on them. The economy starts to produce more intangible assets through R&D(research and development).



Now it has been said to make a successful economy you need to improve the level of R&D that is conducted within it. With successful large economies still investing large amounts in R&D.

So will this make Pakistan into a first world country?

Hi,

Zakat is no miracle. It is taxes that are needed---. Either it is taxes---or it is zakat.

 

[313ghazi]

Proper implementation of any form of governance would improve Pakistan 100 fold.

The brothers point about Zakat should not be overlooked. Every single country in the world could benefit from zakat - consider it a wealth tax, a way of redistributing the extreme hoarding of hyper capitalism.

Properly implemented it'd encourage less dead investment in real estate and land, itd encourage investment into things that generate actual wealth for the economy and it would lift the most vulnerable people in society out of poverty. It could be used to tackle malnutrition, clear debt of the poor, provide seed money to the poor, scholarships.

Unfortunately it will not happen whilst the corrupt are in charge.

 

[TruthSeeker]

"Intangible" assets are wealth if they can be sold for tangible assests. For example, an invention, even though not yet manufactured, if it is recorded and protected by a patent, can be sold for tangible assets and is therefore wealth. Similarly, a trademark, such as "Coca-Cola", if registered as such in a country, can be sold in that country for tangible assets and is wealth. Business "goodwill", which is like a trademark in that it captures that a certain named business provides good products or services, is a value that can be sold to others, therefore is wealth.

 

[Genghis khan1]

build gulag factory for criminals to work and payback to society, start with jenrails, politicians etc .

I would put them to work to rotate large electric turbine, round and round.

If Pakistan put all these crooks to labour camps and make them work in shifts. Like rotating large electric turbines. Pakistan will get free electricity and saving billions in oil imports.

1000 crooks per turbine gear assembly in 4 hour shifts. gear system for smooth transition of physical force into mechanical and than electrical.

 

[Azadkashmir]

I would put them to work to rotate large electric turbine, round and round.

If Pakistan put all these crooks to labour camps and make them work in shifts. Like rotating large electric turbines. Pakistan will get free electricity and saving billions in oil imports.

1000 crooks per turbine gear assembly in 4 hour shifts. gear system for smooth transition of physical force into mechanical and than electrical.

those who do not meet the work quota do not get to eat.