Advance tax on trade of shares abolished: PSX

March 13, 2019 (MLN): The Pakistan Stock Exchange (PSX) notified in a press release yesterday that following the second amendment act in Finance Supplementary Bill, 2019, the advance tax on members (TREC holders) of Stock Exchange, on sale and purchase of shares has been abolished with effect from Mach 1, 2019.

According to the notification, the existing advance tax of 0.02% on sale and purchase of shares traded in lieu of tax on commission has been abolished whereas no changes have been made in the 0.01% capital value tax (CVT) on buying shares of a public company listed as registered stocks.

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Posted on: 2019-03-13T10:32:00+05:00

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