National Clearing Company of Pakistan Limited (NCCPL) on Friday announced to collect Capital Gain Tax (CGT) on March 31, 2023 on disposal of shares during the month of February 2023.
The aggregate amount of CGT that arose on the disposal of shares at the Pakistan Stock Exchange from February 01, 2023 to February 28, 2023, will be collected on Friday, March 31, 2023, through the respective settling banks of the Clearing Members.
All Clearing Members have been requested to ensure that the required amount is available in their respective settling bank accounts. The necessary details and reports for the mentioned period have already been made available in the CGT System.
Additionally, the notice states that the aggregate amount of CGT arising from the trading of future commodity contracts at the Pakistan Mercantile Exchange from February 01, 2023 to February 28, 2023, would also be collected from the exchange on Friday, March 31, 2023. The necessary details and reports for the mentioned period have already been made available.
In addition, the notice mentions that the aggregate amount of CGT arising from the redemption of units of open-end mutual funds has also been finalized for the period of October 01, 2022, to December 31, 2022. The necessary details and reports for this period have already been made available in the CGT System.
The notice also requests that Clearing Members and the Pakistan Mercantile Exchange verify the investor-wise details of capital gain or loss and tax thereon, if any, through reports/downloads. It further reminds that in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.
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