The nine Guangdong cities of the Greater Bay Area have finally all been put on the same level in attracting “talents” from outside the mainland. In recent months, various cities and special economic zones have been announcing their policies for attracting skilled workers, entrepreneurs and others. Over the weekend, the provincial government’s finance department announced that all nine cities would now be able to offer the same 15% subsidized tax incentive to attract talented people.
We explained how this all works in a feature that you can read here. Basically, it is a subsidy that is paid once a year, based on how much tax an individual has been assessed as owing, with the difference between the assessed amount and the amount calculable at 15% being reimbursed. Assessed amounts eligible include salaries, income from remuneration for personal services, royalties, income from franchise royalties, operating income and subsidized income from “talent projects”.
Read our primerfor more details such as who qualifies, etc.