Hainan Free Trade Port highlights a “gift package” of preferential tax and corporate income tax policies
Xinhua News Agency, Beijing, June 30 (Reporter Shen Cheng) The reporter learned from the Ministry of Finance on the 30th that in order to support the construction of the Hainan Free Trade Port, the Ministry of Finance and the State Administration of Taxation recently issued two notices that clarified the high-end shortage of the Hainan Free Trade Port Talent personal income tax policy and corporate income tax preferential policy.
According to the "Notice on the Personal Income Tax Policy for High-end Talents in Need of Hainan Free Trade Port" issued by the two departments, from January 1, 2020 to December 31, 2024, high-end talents and talents in need in Hainan Free Trade Port , The actual tax burden of personal income tax exceeding 15% shall be exempted.
The notice stated that the income from the enjoyment of this preferential policy includes the comprehensive income from Hainan Free Trade Port (including wages, labor remuneration, manuscript remuneration, and royalties), operating income, and talent subsidies recognized by Hainan Province Income. Implement list management for high-end talents and talents in short supply who enjoy preferential policies.
"Building a high-level free trade port requires talents, especially high-end talents and talents in short supply. The tax incentives introduced this time will be very helpful for Hainan to attract talents," said Yang Zhiyong, deputy dean of the Institute of Financial Strategy of the Chinese Academy of Social Sciences.
According to the "Notice on Preferential Policies on Corporate Income Tax of Hainan Free Trade Port" issued by the two departments, from January 1, 2020 to December 31, 2024, the encouraged industries registered in the Hainan Free Trade Port and substantively operating Enterprises are taxed at a reduced rate of 15%; corporate income tax is exempted on income from new overseas direct investment in tourism, modern service, and high-tech industries established in Hainan Free Trade Port.
In addition, for enterprises established in Hainan Free Trade Port, if newly purchased (including self-built and self-developed) fixed assets or intangible assets, and the unit value does not exceed 5 million yuan (inclusive), it is allowed to be included in the current cost calculation The taxable income is deducted when depreciation and amortization are no longer calculated annually; for newly purchased (including self-built and self-developed) fixed assets or intangible assets, and the unit value exceeds 5 million yuan, the depreciation and amortization period can be shortened or taken A method to accelerate depreciation and amortization.
Yang Zhiyong said that these preferential corporate income tax policies will help promote the development of encouraged industries, and tourism and modern service industries are expected to benefit first. It will also help promote Hainan enterprises to "go global" and accelerate the construction of Hainan Free Trade Port.