NCCPL to collect capital gain tax on disposal of securities on June 28

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Friday announced that it will collect Capital Gain Tax (CGT) on disposal of securities for the month of May on June 28, 2019.

In a statement it said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period May 01, 2019 to May 31, 2019, would be collected on Friday June 28, 2019 through respective settling banks of the Clearing Members, along with refund or adjustments on the basis of amount collected up to previous month.

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 May 01, 2019 to May 31, 2019, would also be collected from the Pakistan Mercantile Exchange on Friday June 28, 2019. 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 May 01, 2019 to May 31, 2019. Necessary details and reports have already been made available in the CGT System.

Clearing Members, Pakistan Mercantile Exchange and Mutual Funds are hereby requested to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads. Please note 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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