Capital Gains Tax Form Template for Pakistan

A Capital Gains Tax Form is your official declaration to Pakistan's Federal Board of Revenue (FBR) when you've made money from selling assets like property, stocks, or bonds. It helps calculate the tax you need to pay on these profits, which typically range from 15% to 30% depending on how long you owned the asset.

In Pakistan, you'll need to file this form within the same tax year when you sell any capital asset. The form requires key details like your purchase price, selling price, and the date of both transactions. Real estate transactions, shares traded on the Pakistan Stock Exchange, and other investment gains all need to be reported through this document.

You need to file a Capital Gains Tax Form when you sell any major asset in Pakistan for a profit. This includes selling property, stocks, mutual fund units, or bonds. For example, if you've sold an apartment in Karachi that you bought three years ago, or if you've made profits from trading shares on the Pakistan Stock Exchange.

The form becomes necessary as soon as the sale transaction is complete. File it during the same tax year as your sale to avoid penalties from the FBR. This applies even if you're a non-resident Pakistani selling assets within the country. Remember to gather your purchase and sale documentation before filing, as you'll need to prove both values.

• Short-term Capital Gains Form: Used for assets sold within one year of purchase, requiring detailed transaction dates and higher tax rates.
• Property CGT Form: Specifically for real estate transactions, includes sections for property location, size, and improvement costs.
• Securities CGT Form: Tailored for stock market investments, requiring broker statements and trade confirmations.
• Business Assets CGT Form: For commercial property and equipment sales, includes depreciation adjustments.
• Inherited Asset CGT Form: Special variation for calculating gains on inherited properties, using fair market value at inheritance date.

• Individual Investors: Must file Capital Gains Tax Forms when selling stocks, mutual funds, or property for profit in Pakistan.
• Property Owners: Required to submit when selling residential or commercial real estate above the tax-free threshold.
• Tax Consultants: Help clients calculate gains, determine applicable rates, and complete forms accurately.
• FBR Officials: Review submitted forms, verify calculations, and ensure proper tax collection.
• Real Estate Agents: Often assist clients by providing necessary sale documentation and transaction records.
• Corporate Entities: File these forms when disposing of capital assets or investment holdings.

• Purchase Records: Gather original purchase deed, payment receipts, and acquisition date documentation.
• Sale Information: Collect sale agreement, final payment proofs, and exact transaction date.
• Asset Details: Note specific property address, size, or share quantities with certificate numbers.
• Cost Records: Calculate improvements, renovations, or broker commissions that add to cost basis.
• Identity Documents: Keep your NTN certificate and CNIC copy ready.
• Bank Statements: Prepare statements showing payment transfers for both purchase and sale.
• Calculation Sheet: Document how you arrived at your capital gain figure.

• Personal Information: Full name, CNIC, NTN, and current residential address.
• Asset Description: Complete details of property or securities sold, including registration numbers.
• Transaction Dates: Precise acquisition and disposal dates of the asset.
• Cost Basis Section: Original purchase price plus allowable additions or improvements.
• Sale Proceeds: Final selling price and any deductible expenses.
• Gain Calculation: Clear breakdown of how capital gain was determined.
• Declaration Block: Taxpayer's signature confirming accuracy of information.
• Payment Details: Tax amount calculated and payment method selected.

A Capital Gains Tax Form differs significantly from an Anti-Facilitation of Tax Evasion Policy. While both deal with tax compliance, they serve distinct purposes in Pakistan's tax framework.

• Purpose and Timing: Capital Gains Tax Forms are transaction-specific documents filed after selling assets, while the Anti-Facilitation Policy is an ongoing organizational policy document that outlines preventive measures against tax evasion.
• Legal Requirements: Capital Gains forms are mandatory for individual transactions, but Anti-Facilitation Policies are typically required for businesses and organizations as part of their compliance framework.
• Content Focus: Capital Gains forms detail specific financial transactions and calculations, whereas Anti-Facilitation Policies outline procedures, responsibilities, and reporting mechanisms for preventing tax evasion.
• Filing Frequency: Capital Gains forms are submitted per transaction, while Anti-Facilitation Policies are typically reviewed annually and updated as needed.