National Clearing Company of Pakistan Limited’s notice for all clearing members payment of capital gain tax

Karachi, September 19, 2012 (PPI-OT): This is with reference to the implementation of CGT System from September 13, 2012. Since, effective date of new CGT regime is April 24, 2012; the NCCPL has provided details of CGT computation for trades/transactions executed and settled during the period April 24, 2012 to June 30, 2012 to all relevant Clearing Members for their review and verification.

We have also notified that, CGT for the above period would be collected on Monday, September 24, 2012 through your respective settling banks. In this respect, you are requested to contact your respective clients for recovery of amount of CGT so as ensure payment to NCCPL on such due date.

In case, you are unable to collect certain amount of CGT from some of your clients, for any reason whatsoever, you should accordingly inform your bank for partial payment. Moreover, you are required to submit details of such clients from whom CGT amount has not been recovered along with reason thereof; as per the standard format attached herewith.

For any other queries or concerns, please feel free to contact the Customer Support Services of your respective locations.

For more information, contact:
Badiuddin Akbar
Chief Operating Officer
NATIONAL CLEARING COMPANY OF PAKISTAN LIMITED
8th Floor, Karachi Stock Exchange Building,
Stock Exchange Road
Karachi – 74000, Pakistan
Tel: (92-21) 32460811-19
Fax: (92-21) 32460827
Email:  info@nccpl.com.pk