NCCPL to collect capital gain tax on January 30

January 23, 2024 (MLN): The aggregate amount of CGT arising on the disposal of shares at the Pakistan Stock Exchange for the period December 01, 2023, to December 31, 2023, would be collected on Tuesday, January 30, 2024, through respective settling banks of the Clearing Members.

"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," the notice reads.

Further, the aggregate amount of CGT arising on the trading of future commodity contracts at the Pakistan Mercantile Exchange for the period December 01, 2023, to December 31, 2023, would also be collected from the Pakistan Mercantile Exchange on Tuesday, January 30, 2024.

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

Moreover, the aggregate amount of CGT arising on redemption of units of open-end mutual funds has also been finalized for the period December 01, 2023, to December 31, 2023.

Necessary details and reports have already been made available in the CGT System.

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.

"Please note that, in case of none or partial collection of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations," the notice concludes.

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