Karachi, January 20, 2026 – The Federal Board of Revenue (FBR) has reported an extraordinary rise in Capital Gains Tax (CGT) collection, posting nearly a five-fold increase during the first half (July–December) of the ongoing fiscal year 2025–26, driven by an unprecedented boom in the Pakistan Stock Exchange (PSX).
According to official sources, CGT revenue surged by around 480 percent, reaching approximately Rs85 billion in the first six months of the current fiscal year. This marks a sharp increase compared to Rs14.7 billion collected during the same period of the previous fiscal year. The remarkable growth has been largely attributed to the record-breaking performance of the PSX, which witnessed strong investor participation, high trading volumes, and sustained bullish momentum throughout the period.
Officials noted that the PSX’s stellar run significantly increased profits on the disposal of shares, directly translating into higher tax receipts. The National Clearing Company of Pakistan Limited (NCCPL) is responsible for collecting CGT on behalf of the FBR under Section 37A of the Income Tax Ordinance, 2001, at the time of settlement of stock market transactions.
The upward trend became even more pronounced in December 2025, when CGT collection jumped by about 540 percent to Rs16.4 billion, compared with Rs2.56 billion in December of the previous year. This reflects intensified trading activity and profit-taking toward the end of the calendar year.
Meanwhile, FBR sources revealed that tax authorities have initiated desk audits based on returns filed for tax year 2026. The exercise aims to identify stock market investors, ensure accurate reporting of capital gains, and strengthen compliance in light of rising market-driven tax revenues.