CGT on disposal of shares to be collected on April 8

March 31, 2022 (MLN): The aggregate amount of Capital Gain Tax (CGT) on disposal of shares at the Pakistan Stock Exchange (PSX) for February 2022, would be collected on Friday, April 8, 2022, through respective settling banks of the Clearing Members, a notification issued by National Clearing Company of Pakistan Limited (NCCPL) said today.

In addition, the carry forward loss for the tax year 2021 will also be adjusted from capital gains of the current tax year based on the Active Taxpayers List received from the Federal Board of Revenue (FBR).

All Clearing Members are hereby requested to ensure the 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.

Further, the aggregate amount of CGT arising on the trading of future commodity contracts at the Pakistan Mercantile Exchange for the period February 1, 2022 to February 28, 2022, would also be collected from the Pakistan Mercantile Exchange on Friday, April 8, 2022.

Moreover, the aggregate amount of CGT arising on redemption of units of open-end mutual funds has also been finalized for the period January 1, 2022, to February 28, 2022.

Necessary details and reports for the said period have already been made available, it noted.

Clearing Members and Pakistan Mercantile Exchange are hereby requested 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.

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