Never ever come to Kazakhstan if you invest/trade

Quanto · Feb 28, 2024

Dna7272 said:
I am just baiting you idiot. You looser wanted to have someone's strategy, because you only loose money on your fantastic CASH account. I can only give you lots of sh*t for free.
More...

Wow, now even becoming paranoid... Interesting...
Such lying POS cannot insult me, idi!
Let me guess what comes as next: you will beg for people to get you out of your SHC...

Live by this maxime:
When in Rome, do as the Romans do
and of course in your own country do as your own countrymen do.
Is that so hard to understand?

Dna7272 · Feb 28, 2024

Quanto said:
Wow, now even becoming paranoid... Interesting...
Such lying POS cannot insult me, idi!
Let me guess what comes as next: you will beg for people to get you out of your SHC...

Live after this maxime:
When in Rome, do as the Romans do
and of course in your own country do as your own countrymen do.
Is that so hard to understand?
More...

Pff, I believe you are really trying to look smart. But, little man, you are no more than a dumb looser

RedDuke · Feb 28, 2024

ZBZB said:
IB and other brokers report account value and all sales to the OECD. Tax authorities then access this data.
More...

If I have USA IB account, how will Kazakhstan gov know about it? Just an example. Even if I trade and live there. OP said he has outside paperwork/residence.

ZBZB · Feb 28, 2024

RedDuke said:
If I have USA IB account, how will Kazakhstan gov know about it? Just an example. Even if I trade and live there. OP said he has outside paperwork/residence.
More...

https://www.sif.admin.ch/sif/en/hom...-exchange-information/financial-accounts.html

ph1l · Feb 28, 2024

Dna7272 said:
Yet again there is the law. I can even give you a youtube webinar, where people from KPMG and Kazakhstani stock exchange mention this issue. But it is in Russian so probably it doesn't make sense for most people here. But here's the link
To see the place where the mention anout this specific case, you need to got to time 58:55
More...

Google's translation confirms that taxes on gains (or losses!) is on the sales proceeds for assets in places with preferential taxation and not the conventional way of defining a gain or loss:

58:58
next slide but here is one more point that I would like to note if
59:03
We have such a provision in our code if income is received from sources
59:09
states with preferential taxation, then the full cost of sales is subject to taxation. What are we talking about?
59:15
We are not talking about a broker who is registered in a state with preferential taxation because tax authorities
59:22
authorities issue incorrect letters, sometimes it is about the issuer, that is, who
59:28
is the issuer of the security if it is a company registered in
59:33
state We have a list of official states with preferential taxation, then theoretically you should highlight such
59:42
paper That is, knowing well the issuer where it is registered and having studied it, you must tax the full cost of the paper, that is
59:50
You cannot subtract the cost of sales; the cost of acquisition. That is, you
59:55
for example, bought for 100 and sold for 200 But since this is some kind of offshore I don’t know
1:00:01
the issuer company is registered in the Isle of Man, let's say so, let's say or
1:00:09
somewhere else geraniums or Jersey then the full cost of sale of such paper should be taxed
1:00:15
Here is some advice to keep track of this list but also try not to purchase securities of such issuers in
1:00:23
briefcase because our Tax Code does not let us say so it
1:00:29
not very good Still takes into account the specifics of the investor’s work
1:00:38
there are some operations, declaration and compilation of an investment portfolio
1:00:43
strategies, the Tax Code does not take into account many things, so here you just need to sort of understand what provisions there are
1:00:52
our tax code and try to avoid any risks
More...

The advice in the video is avoid trading in securities from places with preferential taxation. Perhaps the Kazakhstan Stock Exchange misinterpreted the tax laws to encourage more trading on their exchange?

Dna7272 · Feb 28, 2024

ph1l said:
Google's translation confirms that taxes on gains (or losses!) is on the sales proceeds for assets in places with preferential taxation and not the conventional way of defining a gain or loss:

The advice in the video is avoid trading in securities from places with preferential taxation. Perhaps the Kazakhstan Stock Exchange misinterpreted the tax laws to encourage more trading on their exchange?
More...

Hi, that's the same i got from other tax consultants. Plus, the tax code says the same. So it's not a misrepresentation.

So if I buy a stock of a company that is registered in Wyoming, Puerto Rico, Cayman islands Hong Kong etc (there is a big list of states and countries), then they charge 10% from sales proceedings. There are lots stock in the US markets that register in these states and countries with preferential taxation

Quanto · Feb 28, 2024

Interesting text by a financial firm there ("International Trading System Ltd." (ITS)):
"Income Taxation of Individuals in Republic of Kazakhstan"
https://itsx.kz/services/taxes/
On the main page it also says this: "Investors will be able to trade securities listed on the NYSE, NASDAQ and HKEX."

zghorner · Feb 28, 2024

there is no fucking way i would pay those slime balls $250k in taxes if I only netted $200k. That is theft in my book.

leave that POS and never look back.

semperfrosty · Feb 28, 2024

zghorner said:
there is no fucking way i would pay those slime balls $250k in taxes if I only netted $200k. That is theft in my book.

leave that POS and never look back.
More...

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.

trend2009 · Feb 28, 2024

For non US residents trading on US exchange, 10% of proceeds (Not Gains) will be taxed for stocks of public listed partnership company. So if the op country has same tax law, it is possible too, given US has same tax code. I was deducted couple of thousands before I found out the US tax code