Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced the schedule for the collection of Capital Gain Tax (CGT) from Clearing Members (CMs) and Asset Management Companies. The collection pertains to the disposal of shares at the Pakistan Stock Exchange (PSX) and the redemption of units of open-end mutual funds for the period ranging from May 1, 2025, to May 31, 2025.

According to the official notification, the aggregate amount of CGT will be collected on Thursday, July 3, 2025, through the respective settling banks of the Clearing Members. This measure requires all Clearing Members to ensure that the requisite amount is available in their respective settling bank accounts. The necessary details and reports concerning the said period have been made accessible in the CGT System for the members' convenience.

The notification also confirms the finalization of the CGT amount arising from the redemption of units of open-end mutual funds for the same period. These details have been similarly made available in the CGT System.

According to information available from the Pakistan Stock Exchange (PSX), Clearing Members are required to verify the investor-wise details of capital gain or loss and the corresponding tax through the reports and downloads provided in the CGT System. In the event of non-collection or partial collection of CGT, members are instructed to provide the names of the defaulted UIN(s) of the customers to the NCCPL immediately after the designated collection date. Failure to comply may result in actions according to NCCPL's Rules and Regulations.

This development is a part of the continuous efforts by the NCCPL to streamline tax collection processes in the financial market, ensuring compliance and transparency among market participants.