The application of “preferential individual income tax in the Guangdong-Hong Kong-Macau Greater Bay Area” has started on 1st July. For the overseas talents , they have an opportunity to apply a subsidy ,it’s tax-free!
According to "the Notice of the State Administration of Taxation and the Ministry of Finance on Preferential Individual Income Tax Policies in Guangdong-Hong Kong-Macao Greater Bay Area" (Cai Shui  No. 31) , "the Notice on continuing to implement Preferential Individual Income Tax Policies in Guangdong-Hong Kong-Macao Greater Bay Area" (Yue Cai Shui,  No. 29), and "the Notice of the Guangzhou Municipal Finance Bureau, Guangzhou Municipal Science and Technology Bureau, Guangzhou Municipal Human Resources and Social Security Bureau and Guangzhou taxation bureau, State Taxation Administration issued Measures of Guangzhou for Administration of Financial Subsidies under Preferential Individual Income Tax (IIT) Policies in Guangdong-Hong Kong-Macao Greater Bay Area (GBA)" (Yue Cai Gui Zi No. 1). Overseas high-end talents and critically lacking talents, who work within the administrative area of Guangzhou, shall be given financial subsidies if their IIT paid in Guangzhou exceeds the tax amount computed at 15% of their taxable income. The subsidy is exempt from IIT.
The overseas talents of the Measures shall conform to the standards of the "Catalogue of Overseas High-end Talents in Guangzhou" or "the Catalogue of Critically-lacking Talents in Guangzhou." What’s more, the amount of taxable income of the overseas critically-lacking talents shall be more than RMB300,000.
The applicant shall be a permanent resident of Hong Kong or Macao, a Hong Kong resident under the Hong Kong’s Admission Schemes for Talents, Professionals and Entrepreneurs, a Taiwanese resident, a foreigner, or a returned overseas Chinese or a returned overseas Chinese student who has obtained the right of long-term residence abroad;
The applicant shall work or be employed by enterprises and other institutions registered in Guangzhou during the tax year, or alternatively provide independent personal services in Guangzhou, work in Guangzhou for a minimum of 90 days during the tax year, and pay IIT in Guangzhou according to law;
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The applicant shall under the laws and regulations, scientific research ethics, and scientific research integrity. (For more information, just refer to detailed policies)
From July 1st to August 31st every year
From July 1st to August 31st, 2021, the subsidy application for the 2019 tax year can be accepted simultaneously. But Applications that exceed these specified periods will be refused.
It shows how enterprises care about their own employees, and it’s an effective measure for retaining talent if the enterprises help the employees to apply the subsidy. Or,FESCO Guangdong companyhave this service for susidy application, We promote the application, grasp timeliness, judge predictably, suggest optimized method, and handle the whole process, which can make both enterprises and employees worry-free.