The Ministry of Finance and the State Taxation Administration recently announced the extension of the preferential personal income tax policy for high-end and in-demand talent in the Hainan Free Trade Port until December 31, 2027.
Tax Benefits Overview
Under this policy, personal income tax for high-end talent will be capped at 15%. Any tax burden beyond that rate will be waived. The policy covers a broad range of income, including:
• Salaries and wages
• Labor remuneration
• Author’s remuneration
• Royalties
• Business income
• Talent subsidies recognized by Hainan Province
Policy Implementation and Management
Hainan Province will oversee the management of the policy through a talent list system. Specific management measures will be developed in collaboration with the Ministry of Finance and the State Taxation Administration to ensure proper implementation.
This initiative aims to attract and retain skilled professionals to accelerate the development of the Hainan Free Trade Port as a key hub for innovation and business.
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