NCCPL to collect capital gain tax on Sept 24

September 16, 2021 (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 July’21 on September 24, 2021.

In a notification to Pakistan Stock Exchange (PSX), the NCCPL said that the aggregate amount of CGT arising on the disposal of shares at PSX for the period July 01, 2021, to July 31, 2021, would be collected on Friday, Sept 24, 2021, through respective settling banks of the Clearing Members.

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 PMX for the said period would also be collected from PMX on Wednesday, September 30, 2020.

The NCCPL asked clearing members and PMX 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, it warned.

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