Karachi: The National Clearing Company of Pakistan Limited (NCCPL) has announced the collection of Capital Gain Tax (CGT) from Clearing Members and Asset Management Companies for transactions conducted at the Pakistan Stock Exchange (PSX) during December 2024. The collection is scheduled for January 31, 2025, via the respective settling banks of the Clearing Members.

The collection pertains to the aggregate CGT arising from the disposal of shares at the PSX for the period from December 1, 2024, to December 31, 2024. Clearing Members have been advised to ensure the requisite amounts are available in their settling bank accounts by the designated date. Comprehensive reports and necessary details for the period have been made available in the CGT System, enabling Clearing Members to verify investor-wise details of capital gain or loss and the corresponding tax.

In addition to the CGT from share disposals, the CGT arising from the redemption of units of open-end mutual funds for the same period has also been finalized. According to information available from the Pakistan Stock Exchange (PSX), Clearing Members must verify investor-specific details through the available reports and downloads. In cases of partial or non-collection of CGT, necessary actions will be undertaken as per the Rules and NCCPL Regulations.

The notification emphasizes the importance of compliance with the CGT collection process, warning that any discrepancies or failures to remit the correct amounts could result in regulatory actions. This initiative represents a crucial step in maintaining the integrity of the market and ensuring tax compliance within the designated market category.