NCCPL asks PSX members to pay CGT by Jan 30

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday asked the members of Pakistan Stock Exchange (PSX) and other commodity market to pay Capital Gain Tax (CGT) for the month of December 2018 by January 30, 2019.

 

 

A notification circulated for the collection of CGT from Clearing Members, Pakistan Mercantile Exchange and Mutual Funds saying that aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period December 01, 2018 to December 31, 2018, would be collected on Wednesday, January 30, 2019.

The collection will be made through respective settling banks of the Clearing Members, along with refund or adjustments on the basis of amount collected up to previous month.

All clearing members have been advised to ensure requisite amount in their respective settling bank’s account.

Necessary details and reports for the period have already been made available in the CGT System.

Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period December 01, 2018 to December 31, 2018, would also be collected from the Pakistan Mercantile Exchange on Wednesday, January 30, 2019.

Necessary details and reports for the period have already been made available.

Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period October 01, 2018 to November 30, 2018.

Necessary details and reports have already been made available in the CGT System.

Clearing Members, Pakistan Mercantile Exchange and Mutual Funds are hereby requested to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

“Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations,” the authority warned.

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