Pakistan Tax Agency Issues Notification on Taxation of Bonus Shares

The Pakistani Federal Board of Revenue Sept. 27 issued Notification SRO No. 1768(I)/2022, proposing amendments to the rules on taxation of bonus shares. The proposal includes measures to: 1) clarify the determination of acquisition cost; 2) adjust taxpayers’ capital gains tax liability based on their status as a filer or non-filer on the Active Taxpayers’ List; 3) establish capital gains tax calculation for bonus shares acquired prior to July 1, 2014, or from July 1, 2018, onward; 4) establish capital gains tax calculation for bonus shares acquired during the period of July 1, 2014, through June 30, 2018; and 5) ...