Clearing Company of Pakistan Limited (NCCPL) and Befiler (Pvt.) Ltd (Befiler), have signed an Agreement for Collaboration to facilitate capital market investors in filing their tax returnsusing Befiler.
The agreement signing ceremony was held at NCCPL Head Office in Karachi. Speaking at the occasion, CEO Muhammad Lukman said that NCCPL, being an infrastructure institution of Pakistan’s capital market, has been mandated by FBR to Compute, Determine, Collect and Deposit Capital Gain Tax (“CGT)” on disposal of listed securities.
To discharge the said responsibility, NCCPL has developed an automated CGT system, which provides ease of calculation and one-window solution for the determination of CGT.
NCCPL has now collaborated with Befiler, Pakistan’s first and leading digital tax filing solution, with an aim to facilitate the capital market taxpayers by leveraging the power of technology and providing them a convenient, informative and interactive medium for filing tax returns.
It is hoped that the collaboration would encourage more tax payers in attaining active taxpayer status.
Befiler’s Co-founder Akbar Tejani said that Befiler’s aim is to simplify and demonetize tax filing process for individuals, especially salaried class and capital market investors in Pakistan.
Befiler is honored to have a collaboration with a strategic national institution like NCCPL, and expressed confidence that the collaboration will play a major role in promoting the tax compliance culturein Pakistan.