NCCPL says CGT December payment due on January 29

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Tuesday announced date for payment of capital gain tax (CGT) for the month of December 2019.

The aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period December 01, 2019 to December 31, 2019, would be collected on Wednesday January 29, 2020 through respective settling banks of the Clearing Members, the NCCPL said.

All Clearing Members are hereby requested 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 December 01, 2019 to December 31, 2019, would also be collected from the Pakistan Mercantile Exchange on Wednesday January 29, 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 December 01, 2019 to December 31, 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 further said 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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