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.
@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
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?
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?
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.
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