KARACHI: National Clearing Company of Pakistan Limited (NCCPL) 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 respective settling banks of the clearing members.
All clearing members have been asked to ensure the requisite amount in their respective settling bank’s account. Necessary details and reports for the period have already been made available in the CGT System.
Further, the aggregate amount of CGT arising on the trading of future commodity contracts at the Pakistan Mercantile Exchange for the period July 01, 2021, to July 31, 2021, would also be collected from the Pakistan Mercantile Exchange on Friday, September 24, 2021. Necessary details and reports for the period have already been made available.
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.
In case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations, it said.
