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Capital gain tax on stocks ruled out

Published May 19, 2006
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ISLAMABAD, May 18: Central Board of Revenue Chairman Abdullah Yousuf said on Thursday that imposition of capital gain tax on stock markets in the forthcoming budget was not under consideration.

Talking to a private TV news channel, he said the stock markets were exempted from capital gain tax in the budget 2005-06.

“Reports regarding capital gain tax on stock markets are baseless and false,” Mr Yousuf added. He termed the rumours an effort to manipulate the stock market.—APP

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