The National Clearing Company of Pakistan Limited (NCCPL) on Friday announced the market-wise applicable capital gains tax (CGT) effective July 1, 2024, whereby CGT on all categories of non-filers has been cut in half.
| No. | Holding Period | Tax Year 2025 | |||
| Investors appearing in ATL | Investors not appearing in ATL | ||||
| 1 | Where the securities are acquired before the first day, 2013 | 0% | 0% | ||
| 2 | Where the securities are acquired on or after the first day of July, 2013 but on or before 30th day of June, 2022 | 12.5% | 12.5% | ||
| 3 | Where the securities are acquired on or after the first day of July, 2022 but on our before the 30th day of June, 2024, below reduced rates of tax on capital gain arising on disposal shall apply: | ||||
| 1. Where the holding period does not exceed one year | 15% | 15% | |||
| 2. Not exceed two years | 12.5% | 12.5% | |||
| 3. Where the holding period exceeds two years but does not exceed three years | 10% | 10% | |||
| 4. Where the holding period exceeds three years but does not exceed four years | 7.5% | 7.5% | |||
| 5. Where the holding period exceeds four years but does not exceed five years | 5% | 5% | |||
| 6. Where the holding period exceeds five years but does not exceed six years | 2.5% | 2.5% | |||
| 7. Where the holding period exceeds six years | 0% | 0% | |||
| 4 | Where the securities are acquired on or after the first day of July, 2024 onwards: | ||||
| Where the securities are acquired on or after the first day of July, 2024 and onwards | 15% | As per the rates specified in First Schedule, Part 1, Division I, for individuals and association of persons and Division II for companies. Loading ad . . .
Provided that the rate of tax for individuals and association of persons (AOPs) shall not be less than 15% in any case. | |||
NCCPL said a capital gains tax rate of 29 percent will be applied to the corporates that are not appearing in the active taxpayer list (ATL) unless details regarding small company status and necessary documentation are submitted.
| Particulars | Tax Year 2025 | |
| Investors appearing in ATL | Investors not appearing in ATL | |
| Future commodity contracts entered into by members of Pakistan Mercantile Exchange | 5% | 5% |
| Category | Tax Year 2025 | |
| Investors appearing in ATL | Investors not appearing in ATL | |
| Stock Funds: | ||
| For individual, AOPs and Company | 15% | 15% |
| Other Funds: | ||
| For individual and AOPs | 15% | 15% |
| For Company | 25% | 25% |
| Where securities are acquired on or before 30th day of June 2024 and the holding period of the security is more than six years. | 0% | 0% |