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.
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!!
The list: (Перечень государств с льготным налогообложением) in the doc you cited is truncated unless you pay. Is US part of the list?
These folks seem to be up to date on latest Kazakh Tax Code. Give them a shout:- https://www.dentons.com/en/insights/alerts/2023/december/22/important-changes-in-tax-legislation
Hm - so it depends where the stock's company is incorporated? And what exactly does "льготное налогообложение" mean. In real terms?
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.
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...