28 Feb 2019
Qianhai Looks to Woo High Level Staff via Financial Incentives
The Qianhai Authority and the Finance Commission of Shenzhen have jointly announced the introduction of a series of income tax breaks, with the move intended to help attract a high level of experienced staff to the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.
Among the incentives on offer are the following:
- A suitable high-calibre member of staff sourced from outside the mainland and deemed to offer a level of expertise with regard to certain industrial development needs not otherwise available within Qianhai, may apply for additional financial support if they are paying income tax at a level that exceeds 15% of their total taxable income
- This additional financial support will be exempt from individual income tax
The measures came into effect on 28 January this year and will remain in force until 31 December 2020.
For further details (in Chinese), please access the following link:
Circular of the Authority of the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen and the Finance Commission of Shenzhen on the Issuance of the Measures on Individual Income Tax Subsidies for Overseas High-Calibre Talents and Talents in Short Supply in the Shenzhen-Hong Kong Modern Service Industry Cooperation Zone in Qianhai, Shenzhen (Shen Qian Hai Gui No. 2 )