NCCPL announces collection of CGT on March 28

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KARACHI: National Clearing Company of Pakistan Limited (NCCPL) on Friday announced that Capita Gain Tax (CGT) for the month of February 2017 will be collected on March 28.
In a notification issued by the NCCPL said that the aggregate amount of CGT, for the period February 01, 2017 to February 28, 2017, would be collected on Tuesday, March 28, 2017 through respective settling banks of the Clearing Members along with refund or adjustments on the basis of amount collected up to January 31, 2017.
The NCCPL collects CGT on behalf of Federal Board of Revenue (FBR) on sale and purchase of shares in the stock market.
The NCCPL asked the clearing members to ensure requisite amount in their respective settling bank’s account.
The NCCPL also warned that in case of none or partial collection of amount of CGT, necessary action would be taken in accordance with the Rules and NCCPL Regulations.
Necessary details and reports for the said period have already been made available in the CGT System. Clearing Members are hereby requested to verify their client/proprietary account wise details of capital gain or loss and tax thereon, if any, through reports/downloads.

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