NCCPL to collect July CGT on September 24

Web DeskWeb Editor

16th Sep, 2021. 04:10 pm
NCCPL

Adjustment of carry forward capital losses to be made on ATL basis: NCCPL

KARACHI: The National Clearing Company of Pakistan Limited (NCCPL) on Thursday said that the capital gains tax (CGT) on the disposal of securities for July 2021 will be collected on Friday, September 24, 2021.

The aggregate amount of the capital gains tax arising out of the disposal of shares at the Pakistan Stock Exchange for the period July 1, 2021 to July 31, 2021, would be collected on Friday, September 24, 2021 through respective settling banks of the clearing members, the NCCPL said.

All clearing members have been asked to ensure the requisite amount in their respective settling bank’s account. Necessary details and reports for the period had already been made available in the CGT system.

Further, the aggregate amount of CGT arising out of trading of future commodity contracts at the Pakistan Mercantile Exchange for the period July 1, 2021 to July 31, 2021, would also be collected from the Pakistan Mercantile Exchange on Friday, September 24, 2021. Necessary details and reports for the period had already been made available.

The NCCPL advised the clearing members and the Pakistan Mercantile Exchange to verify the investor-wise details of the capital gains 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 NCCPL regulations, it warned.

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