NCCPL announces capital gain tax collection deadline

January 13, 2022 (MLN): National Clearing Company of Pakistan Limited (NCCPL) on Thursday announced that it will collect capital gain tax (CGT) from clearing members and Pakistan Mercantile Exchange (PMX) for the month of November’21 on January 24, 2022, a notice to Pakistan Stock Exchange (PSX) said.

The aggregate amount of CGT arising on the disposal of shares at PSX for the period November 01, 2021, to November 30, 2021, would be collected on Monday, January 24, 2022, through the respective settling bank’s account.

All clearing members have been requested to ensure the 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, the notice said.

Further, the aggregate amount of CGT arising on the trading of futures commodity contracts at the PMX for the said period would also be collected from PMX on Monday, January 24, 2022.

The NCCPL asked both clearing members and PMX to verify the investor-wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

In addition to this, NCCPL warned that 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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