Home Knowledge China China Taxes Individual Income Tax China Taxation - Guidance on Application for IIT Subsidy for Overseas Talents for 2020 in Shenzhen
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Requirements for applicants’ identity
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(2) |
Requirements for applicants’ working conditions
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(3) |
Qualifications of applicants Applicants shall meet one of the following conditions. For whom in accordance with the following article a to d, they shall apply for the subsidy personally. For whom in accordance with the following article e to h, applicants shall apply for the subsidy in the name of their employers.
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(4) |
Tax requirements for the applicant
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(5) |
Other conditions for the applicant
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(1) |
Basic requirments for enterprise applicants
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(2) |
Other requirments for enterprise applicants The criterias for eligible enterprise applicants are based on the list approved or recommended by national ministries and commissions, Guangdong provincial government and relevant government departments in Shenzhen, applicants can find the list by logging in the website of Shenzhen Human Resource and Social Security Bureau. |
(1) |
The amount of subsidy that the applicants can apply shall be calculated by the tax declared and paid in Shenzhen in the tax year of 2020, minus the tax computation, and the subsidy is exempt from IIT. *‘Tax declared and paid’ refers to the total amount of IIT payable in Shenzhen for the applicant’s salary, labor remuneration, author’s remuneration, royalties, business income, and subsidized income from talent projects in the year of 2020. That is the tax amount on annual IIT declaration incluidng the applicant who does not need to complete the annual IIT declaration. *‘Tax computation’ is 15% of applicants’ tax payable. |
(2) |
The amount of IIT of subsidies is calculated based on individual income items and combined release. |
(3) |
If the applicant has already applied for high-level talent incentive subsidies in Shenzhen or each district in the year 2020. This subsidy amount need to be deducted from the actual IIT subsidy. If the IIT subsidy is lower than the high-level talent incentive subsidy in Shenzhen and districts, no subsidy will be released. |
(4) |
The maximum amount of IIT subsidy is RMB 5 million. |
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