National Clearing Company of Pakistan Limited has announced the collection of Capital Gains Tax (CGT) on Thursday, October 30, 2025, from clearing members and asset management companies for transactions carried out during the month of September. This scheduled collection is part of the company’s routine tax collection process under the existing regulatory framework governing capital markets in Pakistan.
In a circular issued by NCCPL, the aggregate CGT amount arising from the disposal of shares at Pakistan Stock Exchange between September 1 and September 30, 2025, will be collected through the respective settling banks of clearing members. All concerned participants have been instructed to ensure timely compliance to avoid regulatory penalties and disruptions in settlement operations.
The company has directed clearing members to make sure sufficient funds are available in their designated settling bank accounts on the day of collection. Detailed CGT computation reports for September have already been uploaded to the CGT System, providing clearing members and asset management companies with the necessary breakdown of tax liabilities.
The CGT collection for this period is not limited to stock market transactions. It also covers the redemption of units from open-end mutual funds, further widening the tax net and ensuring transparent compliance with the national tax framework. Asset management companies have also been provided with transaction-specific data and calculation reports through the same system, enabling them to reconcile and verify the tax obligations of their clients.
Clearing members have been advised to review investor-wise details of capital gains or losses and corresponding tax amounts through the downloadable reports available in the CGT System. NCCPL has stressed the importance of ensuring data accuracy ahead of the collection date to prevent settlement complications and regulatory issues.
The company has also issued a strict compliance warning. In cases of non-collection or partial collection of CGT, clearing members are required to immediately share the names and Unique Identification Numbers (UINs) of defaulting customers with NCCPL after the collection date. Failure to do so may trigger enforcement actions in accordance with NCCPL’s rules and regulations, which may include penalties and potential restrictions on defaulting participants.
This periodic CGT collection mechanism plays a crucial role in supporting the government’s revenue objectives and enhancing market transparency. It also ensures alignment with the regulatory framework of Federal Board of Revenue, which monitors capital market transactions and their tax implications.
For investors, clearing members, and fund managers, timely compliance with CGT obligations remains a key responsibility to maintain smooth market operations and avoid additional scrutiny. This structured collection process is an integral part of Pakistan’s evolving capital market ecosystem, reinforcing accountability and operational discipline among market participants.
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