Guidelines for the Application of 2019 IIT Subsidies in Shenzhen China Released
Recently, Shenzhen Human Resources and Social Security Bureau, Shenzhen Science and Technology Innovation Commission and Shenzhen Finance Bureau have jointly issued a Guideline for the Application of 2019 Individual Income Tax Subsidies for Overseas High-end Talents and Talents in Short Supply in Shenzhen (hereinafter referred to as the Guidelines). Qualified overseas high-end talents and talents in short supply may apply for the individual income tax (IIT) subsidies for the year of 2019 through relevant Shenzhen government authorities from 1 August 2020 to 31 August 2020.
- Conditions for the Applicants
(1)
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Identities
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- Hong Kong and Macao permanent residents
- Hong Kong residents who have obtained the Hong Kong Admission Scheme (quality migrants, professionals and entrepreneurs)
- Taiwan residents
- Foreigners with foreign nationalities
- Returned overseas students who have obtained long-term residence abroad
- Overseas Chinese
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(2)
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Working Requirements
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- working in Shenzhen and shall meet one of the following conditions:
(i) The applicant has signed a labour (employment) contract with Shenzhen employer.
(ii) The overseas employer has signed a dispatch contract with the receiving unit in Shenzhen.
- The working days in Shenzhen for the year of 2019 accumulated to 90 days.
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(3)
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Qualifications
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The applicants shall meet one of the following conditions:
- candidates of the major talent projects of the municipality, province and state
- overseas high-level talents recognized by the municipality, province and state
- obtained of the talent card of Guangdong Province
- obtained permanent residence card in China, work permit for foreigners (category A and category B) or confirmation letter of high-end talents
- scientific research team members and middle-level or above management talents of major innovation platform of the municipality, province and state
- scientific research team members and middle-level or above management talents of colleges and universities, scientific research institutions, hospitals and other relevant institutions, or team members undertaking major longitudinal research projects at municipal level or above, and leaders of key disciplines and specialties at municipal level or above.
- middle-level and above management talents, scientific research team members, technical backbone and outstanding young talents of headquarter enterprises, the world’s top 500 enterprises and their branches, high-tech enterprises, large-scale mainstay enterprises, listed enterprises and small and medium-sized enterprises with high growth and innovative technology.
- middle-level and above management talents, scientific research team members, technical backbone and outstanding young talents who work in or start business in key industries and areas of Shenzhen and there is no unqualified acceptance or overdue acceptance of projects supported by special funds for the development of strategic emerging industries in Shenzhen in the last 3 years.
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(4)
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Tax Requirements
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The applicant shall pay individual income tax in Shenzhen and the amount of individual income tax paid in Shenzhen shall be more than 15% of the taxable income. The amount of taxable income of the applicant with foreign nationality in Shenzhen shall reach RMB500,000 or above.
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- How to calculate the individual income tax subsidies?
According to the Guidelines, the amount of tax paid in 2019 minus the estimated tax amount shall be the amount of individual income tax subsidies that the applicant may apply for.
The estimated tax amount is the individual income tax payable amount in Shenzhen calculated in accordance with Hong Kong tax law for the year of 2019. The estimated tax amount for 2019 shall be calculated in accordance with the standard rate method. That is, the estimated tax amount = the taxable income of the applicant in Shenzhen ?5%.
- Application Procedures
The applicants shall submit their applications through their employers before 31 August 2020 except for personal services.
The approving authority shall make a decision within 120 days upon receipt of the application. The individual income tax subsidies will be paid to the personal account designated by the applicant upon approval.
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