Article 1
These measures have been formulated in order to implement preferential policies for personal income tax for high-end and urgently-needed talent in the Hainan Free Trade Port (FTP). They are based on the Overall Plan for the Construction of the Hainan Free Trade Port and the Notice from the Ministry of Finance and the State Taxation Administration of the Individual Income Tax Policies for High-End and Urgently-Needed Talent in Hainan FTP (No. 32 [2020] of the Ministry of Finance).
Article 2
Hainan province implements list management for high-end and urgently-needed talents who enjoy preferential policies.
Article 3
High-end and urgently-needed talent who benefit from individual income tax preferential policies must work in the Hainan Free Trade Port and pay social insurance in Hainan FTP for more than six months in a single tax year. They must sign job contracts or employment agreements with a length of more than one year, in addition to other labor relationship certification materials with enterprises or entities registered and operating in the Hainan FTP.
Article 4
High-end talent who benefit from the preferential policies must meet one of the following requirements to comply with the provisions of Article 3:
(1) Be recognized by the talent management departments at all levels in Hainan province.
(2) Have an income in the Hainan FTP that exceeds 300,000 yuan ($43,500) in a single tax year.
Article 5
Urgently-needed talent who benefit from the preferential policies must meet the requirements of Article 3 and must be included within the scope of the catalogue of urgently-needed talent in the industries of the Hainan FTP.
Talent management departments in Hainan are responsible for publishing the catalogue of urgently-needed talent in the industries of the Hainan FTP, as well as for updating the catalogue.
Article 6
According to the provisions of these measures, talent management departments in Hainan province, in conjunction with other relevant departments, will regularly submit the list of high-end and urgently-needed talent who benefit from the preferential policies to the taxation departments of Hainan.
The taxation departments of Hainan may also propose to temporarily identify high-end and urgently-needed talent according to their needs, and talent management departments in Hainan province must cooperate.
Article 7
People identified as high-end and urgently-needed talent will enjoy preferential tax policies for that year.
Those who no longer meet the requirements shall not enjoy the preferential tax policies that year.
Article 8
Those determined to be dishonest will not enjoy preferential tax policies that year.
Article 9
Hainan's talent management department, social security department, taxation department, and other departments should strengthen supervision on the basis of Hainan's social management information platform by conducting random tests on the taxation of high-end and urgently-needed talent and carrying out risk evaluation and risk response work based on the results of the tests.
Article 10
If there are disagreements or disputes concerning talent who benefit from the preferential tax policies, talent management departments at all levels in Hainan province should work to coordinate and settle the dispute.
If there are disagreements or disputes about whether the enterprises that employ the talent carry out substantive operations in the Hainan FTP or not, the provincial administration for market regulation in Hainan shall lead coordination and settlement efforts.
Article 11
The Talent Development Bureau of the CPC Hainan Provincial Committee, Department of Finance of Hainan Province and the Hainan Provincial Tax Service, State Taxation Administration jointly regulate specific actions related to these measures.
Article 12
The measures will be in effect from Jan 1, 2020 to Dec 31, 2024.
Overview
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