FBR proposes revised Capital Gain Tax regime on securities

ISLAMABAD: The Federal Board of Revenue (FBR) on Friday proposed revised Capital Gains Tax (CGT) regime on securities through Finance Bill 2017-18 where fixed rate of 15 percent for filer and 20 percent for non filer proposed irrespective of holding period of securities.

Earlier, the FBR was used to have different slabs on the basis of holding period of securities. Where holding period of security is less than 12 months, the rate for filer stood at 15 percent and for non-filer 18 percent in FY 2017. Now universal rate is proposed at 15 percent for filer and 20 percent for non-filer without considering security periods. “If you will hold security for one day, you will have to pay 15 percent in case of filer and 20 percent in case of non-filer,” one top official of FBR told reporters on Friday night.