NCCPL to collect CGT for Oct-Nov on Jan 03

NCCPL to collect CGT for Oct-Nov on Jan 03

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Monday announced to collection capital gain tax (CGT) for the months of October – November 2019 on January 03, 2020.

In a communication sent to Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on disposal of shares at PSX for the period October 01, 2019 to November 30, 2019, would be collected on Friday January 3, 2020 through respective settling banks of the Clearing Members.

The NCCPL advised all clearing members to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.

Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period October 01, 2019 to November 30, 2019, would also be collected from the Pakistan Mercantile Exchange on Friday January 3, 2020.

Necessary details and reports for the said period have already been made available.

Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period July 01, 2019 to November 30, 2019. Necessary details and reports have already been made available in the CGT System.

Clearing Members and Pakistan Mercantile Exchange are hereby requested 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, necessary action would be taken in accordance with the Rules and NCCPL Regulations.

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