Govt to Impose 45% Capital Gains Tax on Non-Filers

Capital Gains Tax (CGT) on securities would be 15 percent on filers irrespective of the holding period and 45 percent on non-filers. According to the Finance Bill 2024, the rate of tax on securities acquired on or after 1 July 2024 will be 15 percent for persons appearing on the Active Taxpayers’ List on the date of acquisition and the date of disposal of securities and at the rate specified in Division for individuals and association of persons and Division II for companies in respect of persons not appearing on the ATL. For those who acquired securities between 1st day of July 2022 and 30th June 2024:   For live updates on everything about the Federal Budget, visit this link.