Zakat of a debtor with more than he owns

Question
A person pays zakat on the goods he has? For example, he has goods worth (50) thousand and owes a debt of (70) thousand, is zakat obligatory on him?
Answer
I say, and with God's help: In this case, zakat is not obligatory; because zakat is obligatory if the nisab exceeds the debts, and in the situation you mentioned, the debt is greater than the money, so zakat is not obligatory, and God knows best.
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