CGT exemption on stock market to continue over the next two years: FBR

[Naveed Yaseen]

RECORDER REPORT
ISLAMABAD (June 08 2008): The Federal Board of Revenue (FBR) on Saturday categorically said that the capital gains tax (CGT) exemption would continue on stock market for the next two years. According to an FBR announcement, the CGT exemption on stock exchanges would continue for the next two years in accordance with the Finance Minister's direction.

The government, however, would continue to collect Capital Value Tax (CVT) and Withholding Tax (WHT) at the existing rates. So, basically there would be no change in the taxation policy vis-à-vis stock exchanges in the forthcoming budget, the FBR added

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