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Increase of 2.5% in capital gains tax on cards

ISLAMABAD: An increase of 2.5% is likely in the capital gains tax in the upcoming budget 2014-15, ARY News reported Tuesday.

The ongoing fiscal year turned out encouraging for stock market, as stocks progressed up to 47%.

The Karachi Stock Exchange (KSE) was trading at 23,000 points at the start of this year and now it has crossed the mark of 28,300 in May.

In view of the increase in capital gains tax, the tax in shares market might increase up to 12.5%.

According to stock market analysts, 6% of capital gains tax is imposed on buying and selling of shares in the stock market for six months.                                                                                                                                                                                   

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