KARACHI: National Clearing Company of Pakistan Limited (NCCPL) will collect capital gain tax from clearing members and Pakistan Mercantile Exchange Limited for the month of January 2018 on February 28.
The Federal Board of Revenue (FBR) has authorized NCCPL to collect capital gain tax on arising on disposal of shares at Pakistan Stock Exchange.
The NCCPL announced that it will collect capital gain tax for the period January 1, 2018 to January 31, 2018, on Wednesday, February 28, 2018 through respective settling banks of the clearing members, along with refund or adjustments on the basis of amount collected up to December 31, 2017.
The NCCPL directed all clearing members to ensure 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, it added.
Furthermore, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange, for the period January 01, 2018 to January 31, 2018, would also be collected from the Pakistan Mercantile Exchange on Wednesday, February 28, 2018.
