Never ever come to Kazakhstan if you invest/trade

[d08]

Makes sense to immediately emigrate. Most 3rd world sheet holes have ridiculous tax systems with often high rates and needless bureaucracy, which means most people avoid taxation, especially when it's from outside the country. Paying more than you earned really is an epitome of idiocy.

 

[Quanto]

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

Your lawyer has to do this:
https://yandex.com/search/?text=appeal+a+tax+decision

 

[Quanto]

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

@schizo and some others here need to read the above to understand the problem.

And this posting that shows the law:
https://www.elitetrader.com/et/thre...f-you-invest-trade.378559/page-5#post-5934280

 

[Quanto]

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

You should apply common sense logic. The E&Y guy cannot be right.
Why do you accept that injustice? You have to appeal it.
Find a good local lawyer, not one from E&Y or so

And: did the tax office tell you how much taxes to pay, or is it just the (wrong) opinion of that E&Y guy?

 

[Quanto]

So basically whenever a company is incorporated in certain countries or states (Wyoming, Puerto Rico, or Cayman islands, Hong Kong etc) which usually have low tax rates, they charge 10% from from selling amount

This sounds BS.
Can you prove this claim with a link etc.?

 

[Dna7272]

This sounds BS.
Can you prove this claim with a link etc.?

I posted translated law before on this thread with exact instructions

 

[Quanto]

I posted translated law before on this thread with exact instructions

I would like to see an untranslated original in English. Can also be for an other country or state, for example Wyoming in your list.

You gave the below example about incorporation in low-tax states/countries,
but how does this relate to your own case? Are you taxed as a company or as an individual?

So basically whenever a company is incorporated in certain countries or states (Wyoming, Puerto Rico, or Cayman islands, Hong Kong etc) which usually have low tax rates, they charge 10% from from selling amount

 

[Dna7272]

I am a little baffled that you didn't plan for this. I'm nowhere as successful as you. However, I do think frequently about which countries have NO CAPITAL GAINS TAX. Any one with a modicum of success thinks about this.

Well, as everyone noted it is written that the capital gains tax is 10%. And almost nowhere people talk about that damb clause, where they might charge 10% of selling amount not the profit. That is why nobody believed me before I posted the law. I found out about it way too late.

 

[Dna7272]

I would like to see an untranslated original in English. Can also be for an other country, for example Wyoming in your list.

Why would I lie here? What it achieves. As I said before I did it to vent my frustrations. Because I don't wanna tell other people that know me about my money. But i needed to tell someone.

Anyway I also posted the untranslated full tax code somewhere above. So you can go ahead and check it

 

[Quanto]

@Dna7272, are you a professional trader, a non-professional trader, or are you a company?