Never ever come to Kazakhstan if you invest/trade

schizo said:
Here's what Deloitte & Touche states:
https://www2.deloitte.com/content/dam/Deloitte/kz/Documents/media/KZ_Taxation_KAZAKHSTAN_Mahon.pdf


CAPITAL GAINS
Generally speaking, residents’ capital gains are included in taxable income, but gains on shares held for over three years (in line with the above dividend WHT exemption conditions) are exempt from tax. Insofar as PEs are created, and not registered, counterparties in Kazakhstan are responsible for deducting 20% WHT from payments made to entities having formed a PE.

Gains made by non-residents are exempt from taxation in Kazakhstan as they are not derived (directly or indirectly) from shares in subsoil user companies or immovable property in Kazakhstan.

When non-residents generate taxable gains, the purchaser of the assets or shares in question is responsible for calculating, withholding and paying any related tax (capital gains). The tax is initially payable at 15%, but may be mitigated by applying a reduced rate under a double tax treaty.

A capital gains tax exemption is available (for both residents and non-residents) if any shares disposed of (and gains are made) are sold using the “open trade method” on a “recognised stock exchange”.
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This is basically the same as what I found. Only capital gains are taxed.
 
toon said:
That's a very long document. Which section says the whole proceeds instead of capital gains are taxed?
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That's the problem, it is very long and too complicated. Different sections link to other sections, and gonna be too difficult to show a specific part. And I am in no mood to explain everything
 
Dna7272 said:
You don't have to believe me, I am venting my frustrations here
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Do you even know what CAPITAL GAINS mean? Simply, it's the difference between your buy and your selling price. In other words, you're taxed for your profit. None of the documents I and others provided state that Kazakstan will tax you at "where you sold" or tax you more than your entire investment. Now go chill out and stop drinking so much. :banghead:
 
schizo said:
Do you even know what CAPITAL GAINS mean? Simply, it's the difference between your buy and your selling price. In other words, you're taxed for your profit. None of the documents I and others provided state that Kazakstan will tax you at "where you sold" or tax you more than your entire investment. Now go chill out and stop drinking so much. :banghead:
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For the f*cks sake. I posted the tax code I explained the reason why the tax is higher than the profit. And this genius based on what he red on few posts thinks that he understands the tax code of my country better than me or a tax consultant. My country's tax code is bad because it's parliament is full of people like you. That think that they are smart, but in reality just pretentious
 
ironchef said:
When there is a will there is a way.
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I will eventually move, but it is gonna take time. And in my case it's lost profit. For people not from developed countries it takes longer time to be accepted. I know I have experience
 
Dna7272 said:
For the f*cks sake. I posted the tax code I explained the reason why the tax is higher than the profit. And this genius based on what he red on few posts thinks that he understands the tax code of my country better than me or a tax consultant. My country's tax code is bad because it's parliament is full of people like you. That think that they are smart, but in reality just pretentious
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You need a really good tax accountant or know someone at the tax agency.

It happened to me years ago when I exercised some stock options my company gave me for a 10% profit but the brokerage reported the cost based as zero cost (their accounting system, don't ask me why) so IRS said the full stock price was my gain. I couldn't explain to the agent (I filed my own tax at the time). Finally had to hire a good tax attorney to fight them and took care of it.
 
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