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Hainan Lowers Maximum Income Tax to 15% for Top Talent
Published on: 2020-08-31
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hainan 0Hainan province is to allow all top hires in its upcoming free trade port who are earning more than CNY300,000 a year, or who have been designated as eligible by government authorities, to preferential personal income tax rates of not more than 15 percent, the local government said today.

Employees must have signed a contract of at least one year with a company registered at the Hainan Free Trade Port, it said. The personal income tax rates will be valid until the end of 2024, after which the free trade port should be in full operation and tax rates will be adjusted according to its economic and social development, it added.

Employees work in a company at Hainan Resort Software CommunityEmployees work in a company at Hainan Resort Software Community

According to China's current tax rates, which are stepped with a maximum rate of 45 percent, a net salary of CNY319,000 a year is also subject to around 15 percent tax. Therefore the Free Trade Port's benefits will only kick in for higher salaries.

The Guangdong-Hong Kong-Macao Greater Bay Area has similar preferential tax policies but the criteria for selecting those eligible are much stricter. Employees must be chosen by recruitment teams at the city level or above, be members of scientific research teams or technicians working on major innovation projects.

海南年收入超30万的人才可享受15%个税优惠

《海南自由贸易港享受个人所得税优惠政策高端紧缺人才清单管理暂行办法》近日印发,并回溯自2020年1月1日起执行。根据办法,海南自由贸易港符合条件的境内外高端人才和紧缺人才都适用最高15%的个税优惠政策。

办法明确了享受个人所得税优惠政策的基本条件,即在海南自贸港连续缴纳6个月以上、并包含本年度12月当月社保,以及签订1年期以上的劳动合同或聘用协议。对于无法缴纳社保的境外人才,提供1年期以上劳动关系证明材料即可享受。根据办法,适用个税优惠政策的高端人才,包括人才管理部门认定的人才或一个纳税年度内在海南自贸港收入达到30万元人民币以上的人才。

据介绍,30万元是动态标准,将会根据海南经济社会发展状况适时调整。

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