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Pakistan scraps capital value tax on share purchase

Sunday, 14 Jun, 2009 7:31 pm

ISLAMABAD : Pakistan will scrap a 0.02 percent capital value tax (CVT) on the purchase of shares while imposing a new tax on brokers' commissions, a government adviser said on Sunday.

"In view of the new sales tax on stock brokers' commissions, the government has decided to abolish the CVT on the purchase of shares," said Sakib Sherani, a member of the government's economic advisory council.

The tax will be scrapped from July 1, the beginning of the new fiscal year.

Copyright Reuters, 2009

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