NCCPL delays CGT collection due to computation process

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Wednesday said that it has delayed the collection of capital gain tax (CGT) for the month of October 2019 due to computation procedures.

In a notice to Pakistan Stock Exchange (PSX), the NCCPL said that the CGT was to be collected on November 19, 2019 for the month of October 2019.

However, the NCCPL said that it was in process of finalizing the CGT computation, therefore, revised CGT collection date would be notified to the market participants in due course.

The NCCPL collects CGT on behalf of Federal Board of Revenue (FBR) on sale and purchase of shares.

The NCCPL also collected the CGT of previous months of this fiscal year after the scheduled timelines for CGT collection. The delay in collection of CGT was due computation process after the measures announced in the budget 2019/2020.

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