You may also feel interested in:Tax boost for Hainan FTP
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I. Overseas high-end talent and talent in short supply working in Shenzhen will be granted subsidies based on the difference in individual income tax burden between Mainland and Hong Kong, and the subsidies shall be exempted from individual income tax. Within a tax year, an applicant may apply for the subsidy for individual income tax for the current year after deducting the estimated tax amount from the amount of the tax paid.
II. For the purposes of this Notice, the term "amount of the tax paid" shall refer to the amount of individual income tax paid in accordance with the Individual Income Tax Law of the People's Republic of China on the following income:(I) income derived from wages and salaries;(II) income from remuneration for personal services;(III) income from author's remuneration;(IV) income derived from royalties;(V) income from business operations; and(VI) subsidized income gained from being selected by talent projects or programs.;;;;;
III. For the purposes of this Notice, the term "estimated tax amount" shall mean the tax payable amount computed within a tax year for an individual's income pursuant to the tax laws of Hong Kong. The subsidy amount for tax year 2019 shall be calculated using the standard tax rate method and may be calculated using the standard tax rate method or the progressive tax rate method after the first year.(I) The standard tax rate method. Estimated tax amount = taxable income of the applicant * 15%.(II) The progressive tax rate method. The estimated tax shall be the payable tax calculated in accordance with Hong Kong tax law on the original income (excluding the benefits obtained by employees in non-cash form or complete reimbursement under the tax exemption conditions prescribed in Hong Kong tax laws) of the applicant.201915%
IV. Subsidies shall be calculated on an item-by-item basis (comprehensive income shall be calculated on a consolidated basis) and according to the method for combined subsidies.
V. Overseas high-end talent and talent in short supply shall be identified under the principle of voluntary declaration, scientificity and objectiveness.VI. Overseas high-end talent and talent in short supply refer to permanent residents of Hong Kong and Macao, Hong Kong residents under Hong Kong entry plans (excellent talent, professionals and entrepreneurs), mainland residents settling down in Hong Kong and Macao (with the mainland household registration canceled), residents of Taiwan, persons of foreign nationality whose taxable income reaches the limit, returned overseas Chinese or overseas Chinese having obtained the right of permanent residence abroad, etc., who work for employers in Shenzhen and pay taxes in Shenzhen in accordance with the law, abide by laws and regulations, scientific research ethics and scientific integrity, and meet any of the following conditions simultaneously:(I) being selected by national, provincial or municipal major talent projects, or talent who have obtained Guangdong Province's "Talent Qualification Guangdong Card", work permits for foreigners working in China (Type A or B) or confirmation letters of foreign high-end talent, or other overseas high-level talent recognized by national, provincial or municipal governments;(II) scientific research team members and management talent above the middle level of national, provincial or municipal significant innovation platforms.(III) members of scientific research and technology teams and managers above the middle level in institutions of higher learning, scientific research institutes, hospitals and other relevant institutions, or members of teams undertaking major vertical subjects under research at or above the municipal level, and leaders for key disciplines and key junior colleges at or above the municipal level.(IV) management personnel, scientific research team members, technical and skill backbones and outstanding young talent at the middle level or above of identified headquarters enterprises, Global Top 500 enterprises and their branches and high-tech enterprises, large backbone enterprises, listed enterprises and enterprises included in the database for cultivation and innovation-oriented small and medium-sized enterprises with high growth technology in Shenzhen.(V) management personnel above middle level, scientific research team members, technical and skill backbones and excellent young talent employed or starting up a business in the key industries and key fields to be developed in Shenzhen.AB
VII. Subsidies for individual income tax shall be borne by the municipal treasury under the sharing ratio of municipal and district taxes. All districts (including the New Area and Shenshan Special Cooperation Zone) and Qianhai Cooperation Area shall be responsible for accepting and reviewing the applications for individual income tax subsidies for high-end talent and talent in short supply and granting of subsidies within their respective jurisdictions. An applicant shall not repeatedly enjoy other preferential policies for talent related to individual income tax in Shenzhen.
VIII. Any applicant who practices frauds shall be disqualified from filing an application, and his application for subsidies for individual income tax shall not be accepted within five years; if the applicant has obtained subsidies for individual income tax, the authority granting shall recover the subsidies and interest (the interest shall be calculated at the current deposit interest rate released by the People's Bank of China during the period from the date of subsidy granting and the day before the subsidies are returned, and may be segmented if the interest rate is adjusted); if the applicant is suspected of committing an offence, the case shall be referred to the judicial organ for investigation of criminal liability in accordance with the law.
IX. Annual application guidelines shall be promulgated by the Shenzhen Municipal Human Resources and Social Security Bureau jointly with the Shenzhen Municipal Commission of Science and Technology Innovation (Shenzhen Municipal Bureau of Foreign Experts Affairs) and Shenzhen Finance Bureau. This Notice shall come into force on March 27, 2020 and remain effective until December 31, 2023. Applicants who satisfy the provisions of this Notice as from 1 January 2019 may apply for subsidies pursuant to the provisions of this Notice.202032720231231201911
Shenzhen Municipal Human Resources and Social Security BureauShenzhen Municipal Commission of Science and Technology InnovationShenzhen Finance BureauShenzhen Tax Service, State Taxation AdministrationMarch 17, 2020 2020317


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Notice on Preferential IIT Policies for the Great Bay Area


You may also feel interested in:Tax boost for Hainan FTP
How to Protect the Software I Developed?
Negative List for Pilot FTZ
Measures for Further Opening up the Financial Sector
I. Overseas high-end talent and talent in short supply working in Shenzhen will be granted subsidies based on the difference in individual income tax burden between Mainland and Hong Kong, and the subsidies shall be exempted from individual income tax. Within a tax year, an applicant may apply for the subsidy for individual income tax for the current year after deducting the estimated tax amount from the amount of the tax paid.
II. For the purposes of this Notice, the term "amount of the tax paid" shall refer to the amount of individual income tax paid in accordance with the Individual Income Tax Law of the People's Republic of China on the following income:(I) income derived from wages and salaries;(II) income from remuneration for personal services;(III) income from author's remuneration;(IV) income derived from royalties;(V) income from business operations; and(VI) subsidized income gained from being selected by talent projects or programs.;;;;;
III. For the purposes of this Notice, the term "estimated tax amount" shall mean the tax payable amount computed within a tax year for an individual's income pursuant to the tax laws of Hong Kong. The subsidy amount for tax year 2019 shall be calculated using the standard tax rate method and may be calculated using the standard tax rate method or the progressive tax rate method after the first year.(I) The standard tax rate method. Estimated tax amount = taxable income of the applicant * 15%.(II) The progressive tax rate method. The estimated tax shall be the payable tax calculated in accordance with Hong Kong tax law on the original income (excluding the benefits obtained by employees in non-cash form or complete reimbursement under the tax exemption conditions prescribed in Hong Kong tax laws) of the applicant.201915%
IV. Subsidies shall be calculated on an item-by-item basis (comprehensive income shall be calculated on a consolidated basis) and according to the method for combined subsidies.
V. Overseas high-end talent and talent in short supply shall be identified under the principle of voluntary declaration, scientificity and objectiveness.VI. Overseas high-end talent and talent in short supply refer to permanent residents of Hong Kong and Macao, Hong Kong residents under Hong Kong entry plans (excellent talent, professionals and entrepreneurs), mainland residents settling down in Hong Kong and Macao (with the mainland household registration canceled), residents of Taiwan, persons of foreign nationality whose taxable income reaches the limit, returned overseas Chinese or overseas Chinese having obtained the right of permanent residence abroad, etc., who work for employers in Shenzhen and pay taxes in Shenzhen in accordance with the law, abide by laws and regulations, scientific research ethics and scientific integrity, and meet any of the following conditions simultaneously:(I) being selected by national, provincial or municipal major talent projects, or talent who have obtained Guangdong Province's "Talent Qualification Guangdong Card", work permits for foreigners working in China (Type A or B) or confirmation letters of foreign high-end talent, or other overseas high-level talent recognized by national, provincial or municipal governments;(II) scientific research team members and management talent above the middle level of national, provincial or municipal significant innovation platforms.(III) members of scientific research and technology teams and managers above the middle level in institutions of higher learning, scientific research institutes, hospitals and other relevant institutions, or members of teams undertaking major vertical subjects under research at or above the municipal level, and leaders for key disciplines and key junior colleges at or above the municipal level.(IV) management personnel, scientific research team members, technical and skill backbones and outstanding young talent at the middle level or above of identified headquarters enterprises, Global Top 500 enterprises and their branches and high-tech enterprises, large backbone enterprises, listed enterprises and enterprises included in the database for cultivation and innovation-oriented small and medium-sized enterprises with high growth technology in Shenzhen.(V) management personnel above middle level, scientific research team members, technical and skill backbones and excellent young talent employed or starting up a business in the key industries and key fields to be developed in Shenzhen.AB
VII. Subsidies for individual income tax shall be borne by the municipal treasury under the sharing ratio of municipal and district taxes. All districts (including the New Area and Shenshan Special Cooperation Zone) and Qianhai Cooperation Area shall be responsible for accepting and reviewing the applications for individual income tax subsidies for high-end talent and talent in short supply and granting of subsidies within their respective jurisdictions. An applicant shall not repeatedly enjoy other preferential policies for talent related to individual income tax in Shenzhen.
VIII. Any applicant who practices frauds shall be disqualified from filing an application, and his application for subsidies for individual income tax shall not be accepted within five years; if the applicant has obtained subsidies for individual income tax, the authority granting shall recover the subsidies and interest (the interest shall be calculated at the current deposit interest rate released by the People's Bank of China during the period from the date of subsidy granting and the day before the subsidies are returned, and may be segmented if the interest rate is adjusted); if the applicant is suspected of committing an offence, the case shall be referred to the judicial organ for investigation of criminal liability in accordance with the law.
IX. Annual application guidelines shall be promulgated by the Shenzhen Municipal Human Resources and Social Security Bureau jointly with the Shenzhen Municipal Commission of Science and Technology Innovation (Shenzhen Municipal Bureau of Foreign Experts Affairs) and Shenzhen Finance Bureau. This Notice shall come into force on March 27, 2020 and remain effective until December 31, 2023. Applicants who satisfy the provisions of this Notice as from 1 January 2019 may apply for subsidies pursuant to the provisions of this Notice.202032720231231201911
Shenzhen Municipal Human Resources and Social Security BureauShenzhen Municipal Commission of Science and Technology InnovationShenzhen Finance BureauShenzhen Tax Service, State Taxation AdministrationMarch 17, 2020 2020317


Tap "Read More" to visit our website

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