KARACHI: The country’s top revenue authority is expected to collect Rs 18 billion capital gains tax from shares’ trading during the ongoing financial year of 2016-17.
The Federal Board of Revenue (FBR) has estimated to collect this amount on the basis of buoyancy in the Pakistan Stock Exchange and changes in the rules regarding commodity shares.
According to the official sources, the National Clearing Company of Pakistan Limited (NCCPL) has deposited capital gains tax of around Rs 8 billion on behalf of the FBR from sale and purchase of shares during the first five months of the current fiscal year.
In the fiscal year 2015-16, the revenue authority collected capital gains tax of Rs 5 billion on stocks trading. Last week, the FBR and NCCPL officials held a meeting to review the ongoing deduction of tax and amendments to the Income Tax Rules, 2002.
