Shareholders must pay capital gains tax by June 30

KARACHI: Clearing members of the Pakistan Stock Exchange (PSX) have been asked to pay Capital gains tax (CGT) on sale of securities by June 30, 2022.

National Clearing Company of Pakistan Limited (NCCP) in a notification on Thursday, said that the total amount of CGT resulting from the sale of shares on the Pakistan Stock Exchange for the period of May 1, 2022 to May 31, 2022, would be collected on Thursday, June 30, 2022 through banks respective Settlement Rules of the Clearing Member.

All clearing members have been requested to guarantee the required amount in the account of their respective settlement bank. The necessary details and reports for the said period have already been made available in the CGT system.

READ MORE: NCCPL to collect CGT for August 2021 on October 29

In addition, the total amount of CGT resulting from the trading of commodity futures on Pakistan Mercantile Exchange for the period of May 1, 2022 to May 31, 2022 would also be collected from Pakistan Mercantile Exchange on Thursday, June 30, 2022.

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

READ MORE: CGT rate on the sale of securities during the 2022 tax year

In addition, the total amount of CGT resulting from the redemption of open-ended mutual fund units has also been finalized for the period from April 1, 2022 to April 30, 2022. The necessary details and reports have already been made available in the CGT system.

Clearing Members and Pakistan Mercantile Exchange have been advised to verify investor’s details regarding capital gain or loss and related taxes, if any, through reports/uploads. Please note that in case of zero or partial collection of the CGT, the necessary measures will be taken in accordance with the rules and regulations of the NCCPL.

Comments are closed.