Never ever come to Kazakhstan if you invest/trade

semperfrosty said:
Yeah the answer is depart.

But theres no way these figures are accurate.

Taking things too literally and not seeking local expertise(admittedly,perhaps to protect knowledge of his income)has led him astray.
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i think the hidden story (there’s always one) is that he doesn’t have the documentation on his trades to prove his income. So they go by proceeds.

he’s either filed incorrectly or there’s real shady stuff in his pnl.

I bet he doesn’t use an accountant and instead asked his buddy the law but no one is actually figuring out his specific issue.
 
Dna7272 said:
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
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Well the best thing to do is to seduce whoever made that law to make him/her change that tax law. That is your best shot at getting away from paying that tax right now. You are a trader. You can do this!! We traders can do anything!!
 
Dna7272 said:
8. The provisions of paragraphs 4, 5 and 6 of this article do not apply if the income specified in paragraphs 4, 5 and 6 of this article is received from sources in a state with preferential taxation
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The list: (Перечень государств с льготным налогообложением) in the doc you cited is truncated unless you pay. Is US part of the list?
 
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terr said:
Hm - so it depends where the stock's company is incorporated?

And what exactly does "льготное налогообложение" mean. In real terms?
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Means countries and states that have lower than 10% corporate tax
 
Dna7272 said:
Means countries and states that have lower than 10% corporate tax
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Ok. Not sure what the corporate tax rate of the country where the security is issued has to do with the capital gains on sell of the security... But if they say so.
 
terr said:
Ok. Not sure what the corporate tax rate of the country where the security is issued has to do with the capital gains on sell of the security... But if they say so.
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In general it is related to people who take their money to offshores i.e. low tax places. My understanding they try to keep people from investing money to offshores. But it is dumb also including stocks from US exchanges. But since there are very few people that trade in Kazakhstan, so nobody really complains about it. Hence they still don't give a f*ck
 
I'm in the US.

For about 30 years my wife and I would put money into IRAs/401ks...Then convert to Roth IRAs.

We own gold and silver coins, old and newer cars, life insurance, one or two rentals, our house is free and clear, US Forever Stamps (yeah, you heard me), newer fences, appliances, yards, fruit trees, toilet paper, pure water filtration, solar chargers, generators, small farms.

We have passed money, farm equipment, cars to our kids.

Yes, we have stocks and bonds...CDs. But for the most part we try to become asset rich and income poor. Nothing to see here government...Move along!!

Just saying in Kazakhstan, grow assets that can be hidden (not found) by the government.

PS In Germany and Japan after WWII, farmers were trading chickens for gold and silver...
 
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