NCCPL to collect CGT on Nov 19

November 11, 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 Sept’21 on November 19, 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 Sept 01, 2021, to Sept 30, 2021, would be collected on Friday, Nov 19, 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 Friday, Nov 19, 2021.

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 cautioned.

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