Property tax
Capital Gains Tax on Shares and Mutual Funds in Pakistan
Gain on the disposal of securities is charged under section 37A at rates set by when you bought them. Securities acquired on or after 1 July 2024 are taxed at a flat 15% for a person on the Active Taxpayer List. Anything bought before 1 July 2013 is outside the charge completely. NCCPL computes and collects it, so you meet it as a deduction rather than as a bill.
Where these figures come from
- Statutory basis
- Income Tax Ordinance, 2001, as amended by the Finance Act 2026, for tax year 2027 (1 July 2026 to 30 June 2027).
- Last checked against the statute
- by BarrioVibe, which files income tax returns through FBR IRIS.
These figures are an estimate computed from the rates above, not tax advice for your situation. Your return depends on facts a form cannot see, so treat the number as a starting point and speak to us before you file on it.
The rate depends on when you bought
Division VII of Part I, rendered from the same module the calculator computes with. The rate is fixed by the acquisition date, and for one window it also falls with how long you held.
| When acquired | Rate for a person on the ATL |
|---|---|
| Bought before 1 July 2013 | Nil |
| Bought 1 July 2013 to 30 June 2022 | 12.5% |
| Bought 1 July 2022 to 30 June 2024, held up to 1 year | 15% |
| Bought 1 July 2022 to 30 June 2024, held 1 to 2 years | 12.5% |
| Bought 1 July 2022 to 30 June 2024, held 2 to 3 years | 10% |
| Bought 1 July 2022 to 30 June 2024, held 3 to 4 years | 7.5% |
| Bought on or after 1 July 2024 | 15% |
What the gain comes to on your holding
Enter the acquisition date, the cost and the sale proceeds. The calculator picks the band from the date rather than asking you which regime applies, which is the step that goes wrong by hand.
Shares Capital GainsWhy you never receive a bill for this
Section 37A is administered through the National Clearing Company of Pakistan. NCCPL computes the gain, collects the tax and issues a certificate, which is why an investor typically encounters this charge as a deduction on a statement rather than as something they calculate and pay.
That has a practical consequence worth planning around: the collection happens whether or not you were expecting it, and the figure is computed from the records NCCPL holds. If your acquisition history is not correctly reflected there, the deduction can be computed on the wrong basis, and correcting it afterwards is considerably harder than getting the record right first.
The 2022 to 2024 window still tapers
For securities bought between 1 July 2022 and 30 June 2024 the rate falls with the holding period, from fifteen per cent within the first year down through twelve and a half, ten and seven and a half as the holding lengthens.
That taper does not exist for anything bought on or after 1 July 2024, where the rate is flat however long you hold. So two parcels of the same share, bought weeks apart either side of that date, are on genuinely different regimes for the rest of their lives, and the later one gets no benefit from patience.
How this differs from property
The structures rhyme, which makes it easy to carry an assumption across, and one difference matters. Both regimes were split by the Finance Act 2024 at 1 July 2024, and both leave the older regime standing for anything acquired earlier.
But property acquired before that date runs on a holding-period table that eventually reaches nil for every property type, while securities acquired before 1 July 2013 are outside the charge from the start and securities bought after it never reach nil at all. Same date, different logic, and the pre-2013 securities exemption has no equivalent on the property side.
Questions
The questionspeople ask
What is the capital gains tax on shares in Pakistan?
It depends on when you acquired them. Securities acquired on or after 1 July 2024 are charged at a flat 15% for a person on the Active Taxpayer List. Earlier acquisitions fall into bands set by acquisition date, and securities bought before 1 July 2013 are outside the charge entirely.
Are old shares exempt from capital gains tax in Pakistan?
Securities acquired before 1 July 2013 are outside section 37A altogether. The exemption attaches to the gain rather than to the person, so it applies whether or not the holder is on the Active Taxpayer List.
Who collects capital gains tax on shares?
The National Clearing Company of Pakistan computes the gain, collects the tax and issues a certificate. That is why an investor usually meets this charge as a deduction on a statement rather than as a bill to pay.
Do non-filers pay double capital gains tax on shares?
Not for securities acquired on or after 1 July 2024. A person off the Active Taxpayer List is charged at the Division I slab rates with a floor equal to the flat rate, so the figure depends on their total income and can reach the top slab rate.
Does holding shares longer reduce the tax?
Only for securities bought between 1 July 2022 and 30 June 2024, where the rate falls with the holding period. For anything acquired on or after 1 July 2024 the rate is flat regardless of how long you hold.
Are mutual fund gains taxed the same as shares?
Gains on units are charged under the same section 37A machinery and collected by NCCPL. Distributions from a fund are different: they are dividends taxed under their own provision, not capital gains.
Is capital gains tax on shares the same as on property?
The structures rhyme but differ. Both were split at 1 July 2024. Property acquired before that runs on a holding-period table reaching nil, while securities acquired before 1 July 2013 are outside the charge from the start and there is no equivalent nil point for later share acquisitions.
What if NCCPL has my acquisition date wrong?
It matters, because the date decides the rate and the tax is collected from the records NCCPL holds. Correcting the record before a disposal is considerably easier than recovering tax computed on the wrong basis afterwards.
Also here
Relatedguides
Capital gains on property
Why the date you bought decides everything, how the gain is computed with no allowance for inflation, and the relief that halves the rate for one group of sellers.
Filer vs non-filer
The rupee difference on property, vehicles, banking and dividends, with the section behind each rate and a calculator for your own numbers.
Rather have someone handle it?
We file returns through IRIS every day. If the answer above raises a question about your own case, that is the conversation to have before the deadline rather than after it.