KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has announced that it will collect Capital Gain Tax (CGT) on disposal of shares on October 09, 2019 for the period July and August.
Informing the Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at PSX for the period July01, 2019 to August31, 2019, would be collected on Wednesday October 9, 2019 through respective settling banks of the Clearing Members.
All Clearing Members are hereby requested to ensure requisite amount in the irrespective settling bank’s account.
Necessary details and reports for the said period have already been made available in the CGT System.
Clearing Members have been asked 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, the NCCPL said.
NCCPL collects advance tax from the members of Stock Exchange registered in Pakistan, margin financiers, trading financiers and lenders],in respect of margin financing in share business or providing of any margin financing, margin trading or securities lending under Securities (Leveraged Markets and Pledging) Rules, 2011 in share business] at the rate specified in Division IIB of Part IV of First Schedule.
