Karachi, November 09, 2020 (PPI-OT): National Clearing Company of Pakistan Limited (“NCCPL”), an infrastructure institution of Pakistan’s capital market, has been mandated by Federal Board of Revenue (“FBR”) to Compute, Determine, Collect and Deposit Capital Gain Tax (“CGT)” on disposal of listed securities.
NCCPL has developed an automated CGT system to discharge the said role on behalf of FBR. The centralized CGT System provides ease of calculation and one-window solution for the determination of CGT.
In line with the Government drive to enhance tax to GDP ratio and to enhance documentation of the economy, it has been envisaged that tax payers should be facilitated to attain filer status. We are pleased to share that NCCPL has collaborated with Befiler (Private) Limited, a joint venture of renowned tax advisors and Arittek Solutions, which aims to simplify tax filing process for individuals, especially salaried class and capital market investors to promote culture of documentation in Pakistan.
Befiler has developed Pakistan’s First online tax filing portal that is simple, user friendly, cost effective and offers artificial intelligence enabled advisory services and seamless tax filing experience. NCCPL and Befiler are in the process of finalizing the necessary system developments and these services will be made available to market participants shortly.
For more information, contact:
National Clearing Company of Pakistan Limited (NCCPL)
8th Floor, Karachi Stock Exchange Building,
Stock Exchange Road
Karachi – 74000, Pakistan