Annual collection of capital gain tax falls by 26%

Dec 29

Stock & Commodity, Taxation, Top stories

Annual collection of capital gain tax falls by 26%

ISLAMABAD: The annual collection of capital gain tax (CGT) from the disposal of securities fell by 26 per cent during fiscal year 2020/2021, according to official data made available to PkRevenue.com The official data revealed that the Federal Board of Revenue (FBR) collected Rs1.925 billion as CGT during the fiscal year 2020/2021 as compared with […]

by Anjum Shah

CGT on disposal of securities to be collected on Dec 30

Dec 24

Stock & Commodity, Taxation

CGT on disposal of securities to be collected on Dec 30

KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) will collect capital gain tax (CGT) on the disposal of securities for the month of October 2021 on December 30, 2021. The NCCPL in a notification said that the aggregate amount of CGT arising on the disposal of shares at the Pakistan Stock Exchange (PSX) for […]

by Hamza Shah

CGT on shares disposal to be collected on Nov 19

Nov 11

Stock & Commodity, Taxation

CGT on shares disposal to be collected on Nov 19

KARACHI: The capital gain tax (CGT) on disposal of shares for the month of September 2021 will be collected on November 19, 2021, according to a notification issued on Thursday. The National Clearing Company of Pakistan Limited (NCCPL) communicated the stock brokers that the aggregate amount of CGT arising on disposal of shares at Pakistan […]

by Faisal Shah

NCCPL to collect CGT for August 2021 on October 29

Oct 20

Stock & Commodity, Taxation

NCCPL to collect CGT for August 2021 on October 29

KARACHI: National Clearing Company of Pakistan Limited (NCCP) on Wednesday said that it will collect Capital Gain Tax (CGT) for the month of August 2021 on Friday October 29, 2021. In a communication sent to stock brokers and investors, the NCCPL said that the aggregate amount of CGT arising on disposal of shares at Pakistan […]

by Faisal Shah

NCCPL to collect capital gain tax on September 24

Sep 16

Stock & Commodity, Taxation

NCCPL to collect capital gain tax on September 24

KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Thursday informed all clearing agents that it will collect capital gain tax (CGT) on the disposal of securities for the month of July 2021. The NCCPL will collect the CGT for the period July 01 – July 31, 2021, on Friday, September 24, 2021, through the […]

by Anjum Shah

NCCPL informs about amended CGT rates to investors

Aug 13

Stock & Commodity, Taxation

NCCPL informs about amended CGT rates to investors

KARACHI: National Clearing Company of Pakistan (NCCPL) on Thursday shared updated capital gain tax (CGT) rates that are applicable from July 01, 2021. The NCCPL in a notice to all market participants informed about the amendments in CGT system brought through Finance Act, 2021. The applicable capital gain tax rates for the year 2021-2022 as […]

by Anjum Shah

Capital gain tax rates enhanced on disposal of immovable properties

Jul 3

Taxation

Capital gain tax rates enhanced on disposal of immovable properties

ISLAMABAD: The Federal Board of Revenue (FBR) has said that the rates of capital gain tax (CGT) on disposal of immovable properties have been slightly enhanced through Finance Act, 2021. The FBR in its explanation to changes made through Finance Act, 2021 in Income Tax Ordinance, 2001, said that a separate block of taxation of […]

by admin

Investors allowed carry forward capital losses on disposal of securities

Jun 24

Stock & Commodity, Taxation

Investors allowed carry forward capital losses on disposal of securities

ISLAMABAD: Federal Board of Revenue (FBR) on Thursday allowed investors of Pakistan Stock Exchange (PSX) to carry forward capital losses for calculation of capital gain tax. In this regard the FBR issued SRO 801(I)/2021 to make amendment in the Income Tax Rules, 2002. The FBR previously issued draft rules through SRO 639(I)/2021 dated June 01, […]

by admin

Finance Bill 2021: tax treatment of capital gain on disposal of immovable properties

Jun 16

Budget 2021-2022, Taxation

Finance Bill 2021: tax treatment of capital gain on disposal of immovable properties

KARACHI: The Finance Bill 2021 has proposed various changes to Income Tax Ordinance, 2021 to capital gain tax on disposal of immovable properties. In its commentary on budget 2021/2022, KPMG Taseer Hadi & Co. Chartered Accountants said that taxation of gain on disposal Gain on disposal of immovable property is currently taxable on separately provided […]

by admin

Capital gain on immovable properties above Rs5 million to be taxed at normal rate

Jun 14

Budget 2021-2022, Taxation

Capital gain on immovable properties above Rs5 million to be taxed at normal rate

KARACHI: The government has taken taxation measures on capital gains from disposal of immovable properties and introduced normal tax regime on gains on immovable properties above Rs5 million. According to commentary on budget 2021/2022 and Finance Bill, 2021 released by PwC A. F. Ferguson & Co. Chartered Accountants, under the existing provisions, gains on disposal […]

by admin