NCCPL to collect capital gains tax on April 3

The National Clearing Company of Pakistan Limited (NCCPL) has announced that the Capital Gains Tax (CGT) on share disposals at the Pakistan Stock Exchange (PSX) for February 2025 will be collected on April 3 through the settling banks of Clearing Members (CMs).

According to an NCCPL notice, all CMs must ensure that the required amount is available in their settling bank accounts to facilitate timely tax collection. Detailed reports for the period have already been made available in the CGT System.

Additionally, CGT on the redemption of open-end mutual fund units for the same period has been finalised. CMs are required to verify investor-wise capital gains, losses, and tax details through the system.

The notice further instructed CMs to report defaulting investors, if any, by providing their names and Unique Identification Numbers (UINs) to NCCPL immediately after the collection date. NCCPL warned that failure to comply could result in action under its applicable rules and regulations.