Karachi: The National Clearing Company of Pakistan Limited (NCCPL) announced plans to collect the Capital Gain Tax (CGT) from Clearing Members (CMs) and Asset Management Companies for the period of March 1, 2025, to March 31, 2025. This collection is scheduled for April 30, 2025, via the respective settling banks of the CMs.

The designated market category includes the Pakistan Stock Exchange, where the CGT on the disposal of shares has been calculated for the specified period. Clearing Members have been notified to ensure that the requisite amounts are available in their settling bank accounts. The necessary details and reports for this period are already accessible through the CGT System.

In addition, the CGT arising from the redemption of units of open-end mutual funds has also been finalized for the same period. The details and reports are similarly available in the CGT System for verification.

According to information available from the Pakistan Stock Exchange (PSX), CMs are required to verify investor-wise details of capital gain or loss and the corresponding tax through available reports and downloads in the CGT System. In instances of non-collection or partial collection of CGT, CMs must provide the names and UINs of defaulting customers to the NCCPL immediately after the collection date. Failure to comply may result in actions as per the NCCPL's applicable rules and regulations.

The NCCPL has emphasized the importance of adherence to these guidelines to ensure smooth operations and compliance with regulatory requirements.