KARACHI: National Clearing Company of Pakistan Limited (NCCPL) has announced it will collect capital gain tax arising on disposal of shares at Pakistan Stock Exchange (PSX) for the month of April 2018 on May 30.
In a notification to PSX, it said that the aggregate amount of CGT arising on disposal of shares at Pakistan Stock Exchange, for the period April 01, 2018 to April 30, 2018, would be collected on Wednesday, May 30, 2018 through respective settling banks of the Clearing Members, along with refund or adjustments on the basis of amount collected up to March 31, 2018.
The clearing company directed all clearing members to ensure requisite amount in their respective settling bank’s account. Necessary details and reports for the said period have already been made available in the CGT System.
Furthermore, the aggregate amount of CGT arising on trading of future commodity contracts at Pakistan Mercantile Exchange, for the period April 01, 2018 to April 30, 2018, would also be collected from the Pakistan Mercantile Exchange on Wednesday, May 30, 2018. Necessary details and reports for the said period have already been made available.
Moreover, determination, computation and collection of CGT on redemption of units of open end mutual funds have also been finalized for the period January 01, 2018 to March 31, 2018. Necessary details and reports for the said period have already been made available in the CGT System.
Clearing Members, Pakistan Mercantile Exchange and Mutual Funds have been asked to verify the investor wise details of capital gain or loss and tax thereon, if any, through reports/downloads. Please note that, in case of none or partial collection of amount of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.
