CGT on shares disposal to be collected on Nov 19

CGT on shares disposal to be collected on Nov 19

KARACHI: The capital gain tax (CGT) on disposal of shares for the month of September 2021 will be collected on November 19, 2021, according to a notification issued on Thursday.

The National Clearing Company of Pakistan Limited (NCCPL) communicated the stock brokers that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange (PSX) for the period September 01, 2021 to September 30, 2021, would be collected on Friday November 19, 2021 through respective settling banks of the Clearing Members.

All Clearing Members are hereby requested to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said 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 September 01, 2021 to September 30, 2021, would also be collected from the Pakistan Mercantile Exchange on Friday November 19, 2021.

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

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

In case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations, according to the notification.

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