Absolutely bandit-like behavior.

Friends around me have been receiving overseas stock trading tax notification one after another. Initially, it was the large investors trading US stocks with over 5 million dollars who received tax notifications, then those with 1 million, and now even those with less than 500,000 dollars are being notified to pay tax.

What's even more absurd is that they only tax the profitable trades at 20%, while the losses are ignored. For example, if you enter with 2 million dollars and first lose 500,000, then lose another 350,000, and then lose 200,000, you would only have 950,000 left. Later, if you manage to make a profit of 600,000, your assets would return to 1.55 million dollars. As a result, that 600,000 profit is taxed at 20%, which is 120,000 dollars, leaving you with only 1.43 million dollars.

Calculating from start to finish, from 2 million to 1.43 million, you overall lost 570,000, but just because there was a profit in between, you had to be deducted 120,000. It means you have to endure the losses yourself, and as soon as you see a bit of recovery, you have to pay tax.

In other words, even if you are overall losing in stock trading, as long as you have profitable trades, you will be taxed 20%! It's simply shameless.

It would be ridiculous if they start taxing cryptocurrency trading like this in the future.