On July 28, 2021, CCI FRANCE CHINE, The British Chamber of Commerce Guangdong, Tricor China and Wang Jing & GH Law Firm jointly organized a seminar “IndividualIncome Tax Subsidy for Foreign Talents in the Greater Bay Area”. The seminar, held both offline and online, attracted many foreign enterprises and foreignindividuals to attend. The speakers, Mr. Zhengyong Ren and Ms. Lili Mo of WangJing & GH Law Firm, shared their views on individual income tax (IIT) preferential policies for foreign individuals in the Greater Bay Area (GBA)with member companies from the two Chambers.
Based on years of practical experience and judicial precedents, Mr. Ren gave an in-depth talk on various aspects including the status of foreign individuals’ application for tax returns, out-dated ways foreign individuals used to avoidtaxes and its compliance risks, the cost of implementation of preferential IIT policies for foreign individuals as well as the application requirements stipulated by the tax authorities.
In order to attract more foreign talents, nine cities in the GBA have issued preferential IIT policies to provide better taxation environment for enterprises based in the GBA and foreign individuals working in the area. At the same time, it also gives incentives for foreign-invested enterprises toplan their deployment in the GBA, which will reduce their tax burden while enabling them to attract more foreign talents. The IIT preferential policy has been implanted since 2019, applicable to overseas high-end and urgently needed talents who meet relevant conditions. However, many enterprises and individuals still do not know enough about it. For this reason, Wang Jing & GH Law Firm will launch series of seminars for foreign chambers of commerce, financial institutions, foreign-invested enterprises and high-net-worth individuals.
广悦律师事务所
Wang Jing & GH Law Firm is a GBA-based, premium full-service law firm with a focus on foreign-related matters that adhere to integrated management. Wang Jing & GH Law Firm aims to improve its foreign-related legal services and include more talents with an international view into the team, which now comprises experienced lawyers and senior consultants from China, the United States, the United Kingdom, Italy, France, Germany, Spain and countries in South America. Regarding cross-border taxation legal affairs, we specialize inservices integrating law, finance and tax and provide clients with integrated services. We also offer enterprises and high-value individuals the services oftax planning of investment M&A, tax planning for corporate structure, tax health check and tax-related dispute resolution.
·END·
