NCCPL revises yearly CGT fee to Rs 24,000

The National Clearing Company of Pakistan (NCCPL) has revised the fee it charges from the equity investors on trades and transactions used for the computation and determination of the Capital Gain Tax (CGT). The revised fee ranges form Rs 240 to Rs 24,000 depending on the annual value of trades and transactions.
The move, a company statement Thursday said, was aimed at providing “relief to the investors”. The NCCPL would implement slab based annual CGT fee for the investors according to their values of trades and transactions.
As per the revised schedule, the NCCPL said, if annual traded value of an investor is less than Rs 100,000, no fee would be charged to such investor. If annual traded value of an investor is between Rs 100,000 to Rs 5 million, fee of Rs 240 would be charged to such investor.
If annual traded value of an investor is between Rs 5 million to Rs 10 million, fee of Rs 360 would be charged to such investor. If annual traded value of an investor is between Rs 10 million to Rs 50 million, fee of Rs 600 would be charged to such investor.
If annual traded value of an investor is between Rs 50 million to Rs 100 million, fee of Rs 1,800 would be charged to such investor. If annual traded value of an investor is between Rs 100 million to Rs 500 million, fee of Rs 3,600 would be charged to such investor.
If annual traded value of an investor is between Rs 500 million to Rs 1.0 billion, fee of Rs 12,000 would be charged to such investor.
If annual traded value of an investor is between Rs 1.0 billion to Rs 5.0 billion, fee of Rs 18,000 would be charged to such investor and if annual traded value of an investor is over Rs 5.0 billion, fee of Rs 24,000 would be charged to such investor.
In an earlier statement, the company announced to have collected the tax on capital gains from the equity investments to the tune of Rs 310 million during the six-month period ranging form April 24 to September 30, 2012.
The company said during the period under review it had collected CGT worth Rs 103.27 million during April 24-June 30 and Rs 206.35 million during July 1-September 30, respectively, on account of trades and transactions executed and settled at the country’s stocks market.
“Whereas the collection of October is underway,” it said.