Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced that it will be collecting Capital Gain Tax (CGT) from various financial entities for transactions made in August 2024. The collection will take place on October 8, 2024, from Clearing Members, the Pakistan Mercantile Exchange, and Asset Management Companies.

The CGT for the disposal of shares at the Pakistan Stock Exchange from August 1, 2024, to August 31, 2024, will be collected through the respective settling banks of the Clearing Members. According to information available from the Pakistan Stock Exchange (PSX), all involved parties have been advised to ensure the availability of the requisite amounts in their respective bank accounts. The NCCPL has already provided necessary details and reports for this period through the CGT System.

Furthermore, the CGT for trading of future commodity contracts on the Pakistan Mercantile Exchange within the same timeframe will also be collected on the designated date. Details and reports pertinent to these transactions have been made accessible to concerned parties.

Additionally, the CGT on the redemption of units from open-end mutual funds for August 2024 has been finalized and detailed reports have been provided in the CGT System. The NCCPL has requested that Clearing Members and the Pakistan Mercantile Exchange verify the investor-wise details of capital gains or losses and the corresponding tax through provided reports and downloads.

The NCCPL warns that in cases of non-compliance or partial collection of the CGT, necessary actions will be taken in accordance with the Rules and NCCPL Regulations.