Stock members asked to pay capital gain tax by June 30

Stock members asked to pay capital gain tax by June 30

KARACHI: Clearing members of Pakistan Stock Exchange (PSX) have been asked to pay Capital Gain Tax (CGT) on disposal of securities by June 30, 2022.

National Clearing Company of Pakistan Limited (NCCP) in a notification on Thursday stated that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period May 01, 2022 to May 31, 2022, would be collected on Thursday, June 30, 2022 through respective settling banks of the Clearing Members.

All clearing members have been asked 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.

READ MORE: NCCPL to collect CGT for August 2021 on October 29

Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period May 01, 2022 to May 31, 2022, would also be collected from the Pakistan Mercantile Exchange on Thursday, June 30, 2022.

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

READ MORE: CGT rates on disposal of securities during Tax Year 2022

Moreover, the aggregate amount of CGT arising on redemption of units of open end mutual funds have also been finalized for the period April 01, 2022 to April 30, 2022. Necessary details and reports have already been made available in the CGT System.

Clearing Members and Pakistan Mercantile Exchange have been advised 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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