Never ever come to Kazakhstan if you invest/trade

[maxinger]

It's not high tax, it's dumb tax. I used to pay 40% tax in my previous residence and I was okay with that. But paying more than you make is ridiculous

Perhaps the system discourages people from residing in Kazakhstan.

 

[Dna7272]

Perhaps the system discourages people from residing in Kazakhstan.

Those f*ckers spending billions on foreign advertisements to lure foreign investors in Kazakhstan. They are just not smart to understand what they want.

 

[schizo]

I never told anyone about my money almost nobody knows what I have, but I have to pay the taxes based on the law. And the law states that I have to pay 250k. It is not a matter of me flapping my mouth it's a matter of a dumb tax system

And you consider your readers to be equally dumb as your tax system?

You come here to insist that you made $250K while your fellow Kazakhs only made on average $4K per year. That's like saying "Listen yo, I drive a Lambo while you plebs drive Ford." Just go to Youtube and there's no shortage of these in-your-face claims.

Basically those f*cker, in some cases take 10% not from profit but from the selling amount. So if I buy something for 101k and sell it for 100k, I have to pay 10% from 100k. And those are normal stocks that are traded at NYSE, NASDAQ

Now to your claim about unfair taxes. Either you're making this up or your accountant is a scammer. For a guy with $250K, you are using a professional accountant, right???

 

[Dna7272]

You come here to insist that you made $250K while your fellow Kazakhs only made on average $4K per year. That's like saying "Listen yo, I drive a Lambo while you plebs drive Ford." Just go to Youtube and there's no shortage of these in-your-face claims.

Did i state that Iade 250k? I said I made 200k and have to pay 250k. I made -50k because of taxes, those people that made 4k a year are better of than me

 

[Dna7272]

Now to your claim about unfair taxes. Either you're making this up or your accountant is a scammer. For a guy with $250K, you are using

You can believe whatever you wanna believe. I read the tax code, and I consulted a good tax consultant. Before claiming that I am making something up first tey to read the tax code

 

[schizo]

Did i state that Iade 250k? I said I made 200k and have to pay 250k. Iade -50k because of taxes, those people that made 4k a year are better of than me

Dude, no country other than North Korea would tax you more than what you make. Go talk to a professional accountant. And not just any accountant, but those who cater to higher net worth individuals.

 

[toon]

I recently moved back to Kazakhstan. It's my home country, but I lived abroad for a while. I trade for living and I make good money. For the last 6 months I made around $200k. But it turns out I am going to pay around 250k in taxes. Kazakhstan has such a stupid tax system. And there's no mistake, I have consulted a tax consultant everything is correct. How stupid tax system can be if a person has to pay more than her earned. I am speechless and I cannot describe how I hate this country. And this is in a country where personal income tax is 10% flat. No wonder everyone avoids paying taxes here, because it's such a stupid system.

I cannot trade anymore because there's no point. If I wanna be able to trade then I need to leave the country and get residence somewhere else but it's not easy. I am lost. Nt only I have to pay 250k in taxes I also can't trsde anymore and gonna lose a lot in possible profit, which I could have made if I resided in a normal country.

P.s. Sorry, I realized that I have made lots of errors in my post. I am furious, and now I am not in the mood to correct the grammar errors

Can you show us where to find such a bizarre tax law? My research indicates that capital gains in your country is subject to tax rates from 0 to 20%. It does not indicate that the whole proceeds from the sale of stocks are taxed, instead only capital gains are taxed. Here is the source: https://taxsummaries.pwc.com/kazakh...l gains of the resident,Government securities.

 

[Dna7272]

Dude, no country other than North Korea would tax you more than what you make. Go talk to a professional accountant. And not just any accountant, but those who cater to higher net worth individuals.

The tax consultant was from Ernst & Young. And I myself red the tax code. It's as it is.

 

[schizo]

The tax consultant was from Ernst & Young. And I myself red the tax code. It's as it is.

Show me the tax code that you're referring to.

 

[ph1l]

Basically those f*cker, in some cases take 10% not from profit but from the selling amount. So if I buy something for 101k and sell it for 100k, I have to pay 10% from 100k. And those are normal stocks that are traded at NYSE, NASDAQ

This 2013 document says the tax is on the gain, not the proceeds.
https://www.morganlewis.com/-/media..._capitalgainstaxationinkazakhstan_07oct13.pdf