CGT on disposal of securities to be collected on Dec 30

CGT on disposal of securities to be collected on Dec 30

KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) will collect capital gain tax (CGT) on the disposal of securities for the month of October 2021 on December 30, 2021.

The NCCPL in a notification said that the aggregate amount of CGT arising on the disposal of shares at the Pakistan Stock Exchange (PSX) for the period October 01, 2021, to October 31, 2021, would be collected on Thursday, December 30, 2021, through respective settling banks of the clearing members.

All clearing members are advised to ensure the 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.

READ MORE: NCCPL informs about amended CGT rates to investors

Further, the aggregate amount of CGT arising on the trading of future commodity contracts at Pakistan Mercantile Exchange (PMEX) for the period October 01, 2021, to October 31, 2021, would also be collected from the Pakistan Mercantile Exchange on Thursday, December 30, 2021.

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

Clearing Members and Pakistan Mercantile Exchange have been asked to verify the investor-wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

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

READ MORE: CGT rates on disposal of securities during Tax Year 2022

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