Use of interest

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Question ID: 39540
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Bismi Ta’la. Asalamulaikum Mufti Saheb
Please confirm the following:I earn interest on a loan account within a business that I no longer work for and the total loan is being repaid to me in 4 x 6-monthly instalment
Can it be used to offset the VAT paid on personal purchases made (i.e. food, furniture etc.) – the VAT is not recoverable from SARS.
Jazakallah

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Asked on January 1, 1970 12:00 am
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Private answer

Yes.

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Answered on January 1, 1970 12:00 am