NCCPL to collect capital gain tax on March 29

KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) on Tuesday said that it will collect Capital Gain Tax (CGT) on disposal of shares for February 2019 on March 29, 2019.

The aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange for the period February 01, 2019 to February 28, 2019, would be collected on Friday, March 29, 2019 through respective settling banks of the clearing members, along with refund or adjustments on the basis of amount collected up to previous month, the NCCPL said.

All clearing members have been directed to ensure requisite amount in their respective settling bank’s account.

Further, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange for the period February 01, 2019 to February 28, 2019, would also be collected from the Pakistan Mercantile Exchange on Friday, March 29, 2019.

Necessary details and reports for the 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 February 01, 2019 to February 28, 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.

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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