The National Clearing Company of Pakistan Limited (NCCPL) has officially announced that the deadline for Capital Gains Tax (CGT) payment for the month of April 2025 has been set for Monday, June 2, 2025.
This tax payment specifically applies to gains realized from the disposal of shares traded on the Pakistan Stock Exchange (PSX) during the period spanning from April 1 to April 30, 2025.
According to the notification issued by the NCCPL, the CGT payment will be collected via the respective settling banks of all Clearing Members (CMs). CMs have been urged to ensure that the necessary funds are readily available in their designated settlement bank accounts by the specified due date. The NCCPL further emphasized that all relevant details and comprehensive reports pertaining to this period are already accessible within the CGT System, facilitating timely reconciliation and processing for all involved parties.
In addition to capital gains from share disposals at PSX, the CGT liability arising from the redemption of units of open-end mutual funds during April 2025 has also been finalized. Detailed reports related to these specific transactions have similarly been uploaded to the CGT System for review by the relevant stakeholders.
All Clearing Members are explicitly instructed to meticulously verify investor-wise calculations of capital gains or losses, and the associated CGT payment obligations. This verification process should be conducted by thoroughly reviewing the relevant downloads and reports available from the CGT System. Accurate verification is deemed essential by the NCCPL to ensure that no discrepancies arise at the time of tax payment.
Crucially, the NCCPL has stipulated that in instances where the CGT payment is either partially made or entirely missed, it is mandatory for the Clearing Members to promptly provide the names and Unique Identification Numbers (UINs) of the defaulting clients immediately after the collection date. This measure is in place to ensure accountability and facilitate proper follow-up actions by the authorities.
Non-compliance with the prescribed CGT payment procedure may lead to strict action being taken under the rules and regulations applicable to NCCPL. Therefore, all stakeholders are strongly advised to fulfill their obligations without any delay to avoid potential regulatory complications and penalties.
