NCCPL announces March CGT collection on April 29

NCCPL announces March CGT collection on April 29

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has announced collection of Capital Gain Tax (CGT) on disposal of shares for the month of March 2020 will be collected on April 29, 2020.

The NCCPL in a communication said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange (PSX) for the period March 01, 2020 to March 31, 2020, would be collected on Wednesday April 29, 2020 through respective settling banks of the Clearing Members.

The NCCPL asked all clearing members to ensure requisite amount in their respective settling bank’s account.

Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period March 01, 2020 to March 31, 2020, would also be collected on Wednesday April 29, 2020.

Provisional reports for the said period are made available and final reports and collection details will be made available in the CGT System shortly, the NCCPL said.

The NCCPL also directed the clearing members and Pakistan Mercantile Exchange 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 found then it would take action as per law.

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