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Guangzhou, Shenzhen released details for tax subsidy application
Update: 2020-07-10     Source: Newsgd.com

On 24 June 2019, China's Guangdong Province Department of Finance and the Guangdong Provincial tax authority released guidance (Yue Caishui [2019] No. 2) on the implementation of the preferential individual income tax (IIT) policy for the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) for a one-year trial as from 1 January 2019.

Guangzhou recently rolled out specific measures to guide qualified applicants to apply for tax subsidies. According to the document, the applications for tax subsidies are processed only once a year, this year's initial application process began on July 1st of this year, and it will continue until August 15th. This means that applicants have to wait for another year if they miss this first initial application period.

Who Are Qualified for the IIT Subsidy Application?

To be eligible for the IIT subsidy application, all the following 3 Basic Conditions must be met:

Hong Kong or Macau permanent residents, Hong Kong residents under the Hong Kong Immigration Admission Schemes for Talents, Professionals and Entrepreneurs, Taiwan residents, foreigners, or Chinese students or overseas Chinese who obtained long term residency abroad;

Work in one of the nine GBA cities and pay taxes according to the IIT law; and

Compliance with laws and regulations, ethics and integrity relating to scientific research.

The definitions of “High-end Talent” and “Talent in Short Supply” vary among the nine Mainland GBA cities, of which only Guangzhou and 3 other cities have finalized the local implementation rules.

Guangzhou rules provide a detailed list of both “High-end Talent” and “Talent in Short Supply.” The “Talent in Short Supply” spans 16 industries with a wide spectrum of work types and seniority. However, the annual taxable income subject to IIT of the applicants in Guangzhou must be more than RMB 300,000.

How to Calculate Tax Subsidies?

The guidance (Yue Caishui [2019] No. 2) on the implementation of the preferential individual income tax (IIT) policy for the Guangdong-Hong Kong-Macau Greater Bay Area (GBA) clearly stipulates that “High-end Talent" or “Talents in Short Supply" who work in Guangzhou shall be given tax subsidies. The subsidy is calculated as the discrepancy between one’s IIT paid on eligible personal income in 2019 and 15 percent of the taxable value of the same eligible income (“IIT differential”) as follows:

Subsidy amount = Amount of IIT paid on eligible personal income – the taxable value of eligible personal income X 15%.

Documents for The Application

To apply for financial subsidies for “High-end Talent" or “Talents in Short Supply" in Guangzhou, the following documents are needed:

Guangzhou Individual Application Form for Financial Subsidies for Preferential Policies on Individual Income Taxes in the Guangdong-Hong Kong-Macao Greater Bay Area

Valid Identity Certificate

Talent Qualification Certificate

Proof of accumulative 90 days of work in Guangzhou

Commitment letter for the application of tax subsidy

Proof of awards for the selected talent project

Power of attorney

There are more details regarding the definition of qualified applicants and the procedure for the application, feel free to be in touch with us to get more information.

s high-end and badly needed professionals from overseas can apply for subsidies online for the individual income tax starting from Aug. 1, according to a statement of the Shenzhen Municipal Human Resources and Social Security Bureau.

In this case, the professionals refer to permanent residency holders in Hong Kong and Macao, or mainland people who have received residency permits through talent programs in Hong Kong and Macao and have had mainland hukou canceled, Taiwan residents and foreign nationals whose taxable income had reached the limit, and returned professionals from overseas who have obtained permanent residency permit overseas. As long as they have worked in Shenzhen for more than 90 days and have paid taxes according to the law, they can apply for subsidies if they meet one of the following criteria:

1. They have been selected into the talent programs of national, provincial and municipal levels, obtained A category or B category work permits, Guangdong talent cards, or high-end professional certificates.

2. They are managerial talents at or above the middle level of a company or a member of a research team engaging in national, provincial or municipal-level major innovation platforms.

3. They are members of research teams in higher learning institutions, research institutes or hospitals, or members of research teams that carry out key research tasks above municipal level.

4. They are talented staff members working at high-tech companies, major enterprises, listed companies or headquarters companies that have been accredited by the Shenzhen government, or at key industries or key areas of the city.

Tax incentives for high-end professionals from overseas

Shenzhen's high-end and badly needed professionals from overseas can apply for subsidies online for the individual income tax starting from Aug. 1, according to a statement of the Shenzhen Municipal Human Resources and Social Security Bureau.

In this case, the professionals refer to permanent residency holders in Hong Kong and Macao, or mainland people who have received residency permits through talent programs in Hong Kong and Macao and have had mainland hukou canceled, Taiwan residents and foreign nationals whose taxable income had reached the limit, and returned professionals from overseas who have obtained permanent residency permit overseas. As long as they have worked in Shenzhen for more than 90 days and have paid taxes according to the law, they can apply for subsidies if they meet one of the following criteria:

1. They have been selected into the talent programs of national, provincial and municipal levels, obtained A category or B category work permits, Guangdong talent cards, or high-end professional certificates.

2. They are managerial talents at or above the middle level of a company or a member of a research team engaging in national, provincial or municipal-level major innovation platforms.

3. They are members of research teams in higher learning institutions, research institutes or hospitals, or members of research teams that carry out key research tasks above municipal level.

4. They are talented staff members working at high-tech companies, major enterprises, listed companies or headquarters companies that have been accredited by the Shenzhen government, or at key industries or key areas of the city.

Sources: State Taxation Administration, Tax Deloitte, KPMG, Shenzhen Daily

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