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foreigners can get subsidy if meet these conditions! let’s check

guangzhou has rolled out preferential individual income tax (iit) policies in guangdong-hong kong-macao greater bay area. from july 1 to august 15, eligible applicants can submit an application online. 

foreigners can get subsidy if meet these conditions! let's check

last year, guangdong issued a notice on implementing the individual income tax preferential policies in the guangdong-hong kong-macao greater bay area (“the gba”), which sets out the general framework for determining eligibility and extent of an individual income tax subsidy. 
 
guangzhou later rolled out a series of interim measures for the policies and recently released the application guidance with some faqs. let’s check the details! 
 
guide of the application for the iit subsidies (in chinese): 
http://kjj.gz.gov.cn/attachment/0/93/93272/6436217.pdf
 

foreigners can get subsidy if meet these conditions! let's check

 
what’s the main content of guangzhou’s subsidy policy? 
 
the interim measures stipulate that overseas high-end talents and critically lacking talents who work within the administrative area of guangzhou shall be given financial subsidies if their iit paid in guangzhou exceeds the tax amount computed at 15% of their taxable income. 
 
the subsidies are granted on a lump-sum basis every year. it will be open for application and granted after the settlement and payment of iit in the following year. 
 
the period of is between march 1 to june 30, 2020. and the applications for financial subsidies in 2019 are accepted from july 1 to august 15 this year
 
you can check the “read more” to get the full content of the measures.
 

foreigners can get subsidy if meet these conditions! let's check

 
 
how to calculate the financial subsidy? 
 
where an applicant earns incomes under article 10 of the measures, the applicable annual financial subsidy shall be computed with the following formula: 
 
financial subsidy=∑ (iit balance by category each year × the proportion of iit paid by category) 
 
the proportion of iit paid by category = the amount of iit paid by category in guangzhou each year ÷ the amount iit paid by category in china each year. 
 

foreigners can get subsidy if meet these conditions! let's check

 
who are eligible for the subsidy? 
 
  1. the overseas high-end talents conform to the standards of the catalogue of overseas high-end talents in guangzhou.
  2. the overseas critically-lacking talents conform to the catalogue of critically-lacking talents in guangzhou, and the taxable income of iit in the tax year shall exceed rmb 300,000
meanwhile, the applicants mentioned above need to meet the following conditions:
 
  1. the applicant shall be a permanent resident of hong kong or macao, a hong kong resident under the hong kong’s admission schemes for talents, professionals and entrepreneurs, a taiwanese resident, a foreigner, or a returned overseas chinese or a returned overseas chinese student who has obtained the right of long-term residence abroad; 

     

  2. the applicant shall work or be employed by enterprises and other institutions registered in guangzhou during the tax year, or alternatively provide independent personal services in guangzhou, work in guangzhou for a minimum of 90 days during the tax year, and pay iit in guangzhou according to law; 

     

  3. within three years before applying for financial subsidies, the applicant shall have no information records of major tax violations, no records of dishonest acts such as false reporting, false collection, fraud, misappropriation of financial funds, violation of scientific research ethics and integrity, and no records of serious violation of laws or regulations, such as being included into the blacklist of debtors for law enforcement, being subject to criminal punishment or ordered to suspend production or business, being revoked of the business license or permit, or receiving administrative punishment involving large sum of fine. the applicant is not directly or primarily responsible for the above acts or records of the withholding agent, nor is he the legal representative or responsible person of the withholding agent.

△ slide for more 
 
 
what materials are required for the application? 
 
for overseas hight-end talents: 
  1. application form for iit financial subsidy from the applicant 
  2. applicant’s valid identity certificate 
  3. confirmation documents of the applicant’s qualification 
  4. materials to prove that the applicant’s annual working days in guangzhou reach a minimum of 90 days
  5. commitment letter for iit financial subsidy
  6. materials to prove that the applicant is enlisted in talents projects
  7. power of attorney
for overseas critically-lacking talents: 
  1. application form for iit financial subsidy from the applicant 
  2. applicant’s valid identity certificate
  3. materials to prove that the applicant’s annual working days in guangzhou reach a minimum of 90 days 
  4. materials to prove that the applicant’s academic degree skill, qualification, and so on 
  5. commitment letter for iit financial subsidy 
  6. materials to prove that the applicant is enlisted in talents projects 
  7. power of attorney
must the applicant have both the a-type work permit and the confirmation letter for foreign high-end talents? 
 
no. the eligible applicant holding any of them can enjoy the financial subsidies.
 

foreigners can get subsidy if meet these conditions! let's check

 
if you want to know more about the policies, please click “read more” to check the interim measures of guangzhou for administration of financial subsidies under preferential iit policies in guangdong-hong kong-macao greater bay area
 
in the meantime, hacos provides professional business services including tax consulting. you can contact us anytime to get a better solution for your business

foreigners can get subsidy if meet these conditions! let's check

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foreigners can get subsidy if meet these conditions! let's check

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source | guangzhou gov

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foreigners can get subsidy if meet these conditions! let's check

super dan, chinese badminton legend, announces retairement

china’s two-time olympic badminton champion lin dan, one of the sport’s greatest singles players, announced his retirement on saturday. he leaves badminton with some wonderful memories, most notably his gold medals from beijing 2008 and london 2012. 
super dan, chinese badminton legend, announces retairement
china’s badminton legend lin dan announced his retirement on saturday. 
 
“from 2000 to 2020, it’s been twenty years since i joined the chinese national team. now, i am saying good-bye,” the two-time olympic champion announced on weibo. 
 

super dan, chinese badminton legend, announces retairement

△ lin dan announced his retirement on weibo

 
he said he was excited and proud when he joined china’s badminton national team in 2000 and became a national team player. 
 
he thanked his family, coaches, teammates and fans for accompanying him through the ups and carrying him up through the downs. 
 
“i’ve dedicated everything to the sport i love. my family, coaches, teammates and fans have accompanied me through many happy times and difficult moments,” chinese media quoted lin as saying in the retirement announcement. 
 
fondly called ‘super dan’ by badminton fans across the world, lin became the first shuttler to retain the olympic title when he won in the 2012 london games after his triumph in the home event in beijing in 2008. 
 
super dan, chinese badminton legend, announces retairement
 
not only is he a badminton legend in china, but also one of the country’s most iconic sports figures from the past two decades. lin captivated many with his unyielding spirit, persistence and fight on the court. 
 
“in every jump smash lies my eagerness for victory,” lin said in his goodbye note. “i have never considered hanging up the racket during my professional career which spanned four olympics. i have devoted everything to the sport i love.” 
 
“in comparison to purely pursuing the rankings when i was young, i want to challenge my physical extreme in recent years – to carry out the unyielding sports spirit.” 
 

super dan, chinese badminton legend, announces retairement

 

 
however, lin had to call it a day, although it was a hard decision for him. 
 
“now i’m 37 years old, and my physical fitness and pain no longer allow me to fight side by side with my teammates,” lin said. 
 
lin won the badminton men’s singles gold at the 2008 beijing olympics and defended the title at the 2012 london olympics. he also won all the sport’s major titles, including five gold medals at the world championships between 2006 and 2013 and six all england crowns. 
 
in 2011, he became the first badminton player to seal the sport’s ‘super grand slam’ by winning all nine of its major titles. 
 
super dan, chinese badminton legend, announces retairement
 
over lin’s two-decade-long career, he had many great rivalries. his rivalry and friendship with malaysian legend lee chong wei was considered by many fans as the greatest of all time. 
they confronted each other at the olympics men’s singles final in 2008 in beijing when lin spared no effort to win. four years later at the 2012 london olympics, they faced off again in the final and lin edged lee by two points in the decisive game to become the first ever defending olympic badminton men’s singles champion. 
 
super dan, chinese badminton legend, announces retairement
 
lee defeated lin at the 2016 rio olympics but failed to claim the gold medal in the final. he announced his retirement last year. 
 
learning the news of lin’s retirement, lee wrote on weibo, “please believe that all the laughter, tears and promises are an unforgettable diary. my greatest opponent. proud of you.” 
 
he also wrote on twitter, “we knew this day would arrive, heavy moment of our lives; you pulled down the curtain gracefully, you were king where we fought so proudly; your final wave all four disappear, within the hush of silent tear.” 
 

super dan, chinese badminton legend, announces retairement


 
 
 
 
 
 
 
 
 
 

super dan, chinese badminton legend, announces retairement

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source | cgtn / reuters

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super dan, chinese badminton legend, announces retairement

tencent v.s. chinese hottest woman, tech giant got fooled?

a commercial dispute between tencent inc, one of the tech giants, and laoganma, a leading food company famous for its chili sauce products, has recently sparked viral discussions on social networks. 
on tuesday, reports emerged showing that chinese tech giant tencent claimed providing commercial advertisement services to laoganma, the country’s most famous chili sauce brand, but never receiving payment. 

tencent v.s. chinese hottest woman, tech giant got fooled?

tencent v.s. chinese hottest woman, tech giant got fooled?
tencent v.s. chinese hottest woman, tech giant got fooled?
△ the virtual gifts and limited products by tencent’s game qq speed × lao gan ma
if you don’t know what laoganma is, well,  to know more about it and its founder, who’s called “the hottest woman in china”. 
 
the company took the case to a local court in shenzhen, and requested freezing an account of laoganma. 
 
but as confusion reigned, laoganma responded that they had never signed any ad contract with tencent and the latter might have been cheated by fraudsters; laoganma also said they had already called the police and told them about it. 
 

tencent v.s. chinese hottest woman, tech giant got fooled?

tencent v.s. chinese hottest woman, tech giant got fooled?

on wednesday, the local police of guiyang, guizhou province, issued a statement, saying that three persons used a fake stamp to cheat tencent into believing they were employees of laogama and signed the contracts, in order to obtain some virtual gifts from the latter and resell them online. the three were later arrested. 
 
tencent v.s. chinese hottest woman, tech giant got fooled?
 
according to the latest report in friday afternoon, the people’s procuratorate of nanming district of guiyang has intervened on july 2. 
 
tencent v.s. chinese hottest woman, tech giant got fooled?
 
the case has almost become a joke on social networks, with many advising tencent to be stricter in checking counterparts’ identities. even tencent itself resorted to self-mockery by issuing a microblog and asking people to offer clues about the case, saying they would offer 1,000 cans of laoganma chili sauce as rewards for clues. 
 
tencent v.s. chinese hottest woman, tech giant got fooled?
tencent v.s. chinese hottest woman, tech giant got fooled?
△ “today’s chili sauce doesn’t taste good,” tencent’s social account said on the internet. 
while people are right to make funny comments, the case, as the police statement shows, might involve a big fraud and must be dealt with seriously. 
 
the three suspects reportedly obtained tencent’s trust with a fake stamp. if that’s confirmed, the three could face criminal charges of fraud; if they faked the stamp themselves, they might face an additional criminal charge for that. if they bought the stamp elsewhere, the person who made the fake stamp might face the charge. 
 
the police statement also said the three hoped to obtain virtual gifts from tencent and resell online. there is no information about whether they got the gifts and resold some; if yes, those who purchased these gifts might suffer losses and if the losses are big enough that would be another fraud. 
 

tencent v.s. chinese hottest woman, tech giant got fooled?

 
the amount might not be small considering the fact that tencent applied to freeze 16,240,600 yuan of laoganma money. hope the judiciary conducts a thorough probe to get everything clear. 
 
the case also reminds the whole society about the danger of fake stamps. technologically it is so easy to make a false stamp that a small machine is enough; some fake stamps are even reportedly carved on sliced carrots that fake stamps are jokingly called “carrot stamps”. it is necessary for all organizations to double check stamped documents so as to prevent similar cases from happening again.
 

tencent v.s. chinese hottest woman, tech giant got fooled?

tencent v.s. chinese hottest woman, tech giant got fooled?

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tencent v.s. chinese hottest woman, tech giant got fooled?

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source | china daily / sixth tone

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tencent v.s. chinese hottest woman, tech giant got fooled?

new chinese policies affect you from today! let’s check

 a series of new policies and measures have now been formally adopted and come into force. let’s see how they will affect your everyday life in china and check the updates of important news! 

– 01 –

attention! your large cash transactions will be recorded and tracked!

new chinese policies affect you from today! let's check

china has designated three pilot areas to regulate cash transactions in large amounts amid efforts to strengthen cash circulation management and curb illegal activities. 
 
new chinese policies affect you from today! let's check
 
hebei province will start the two-year pilot program in july, while zhejiang province and the city of shenzhen will start the experiment in october, according to a plan released by the people’s bank of china. 
 
all three pilot areas will regulate cash transactions of 500,000 yuan (about $70,600) or above for business accounts. for personal accounts, the three pilot areas have set different thresholds of regulation. 
 
the pilot program will encourage reservation-based cash withdrawals in large amounts, establish a system that records, analyzes and supervises large cash transactions, and prevent risks related to such transactions. 
 
the central bank also said that the regulations will not significantly affect normal daily economic activities as multiple payment alternatives are readily available. 
related article:  
– 02 –
more business options for foreigners now! china released 2020 negative lists for foreign investment 

new chinese policies affect you from today! let's check

china is opening more industries to foreign investors with the release of new shortened negative lists. 
 
the national development and reform commission and the ministry of commerce have jointly released two updated negative lists for 2020, which will take effect on july 23. 
 
new chinese policies affect you from today! let's check
 
the new version shortens the length of the negative lists and raises the opening-up level of the service, manufacturing and agriculture sectors. 
 
the number of items on the nationwide list has been cut from 40 to 33, while the one for free trade zones has 30 items, down from 37. foreign investors will be given more freedom in more sectors. 
 
related article:  
 
– 03 –
hk extends quarantine measures until august 7

new chinese policies affect you from today! let's check

the hong kong government announced in a statement on tuesday that it has extended its 14-day mandatory quarantine for all arrivals from the mainland, macao and taiwan for one more month to 7 august. 
 

new chinese policies affect you from today! let's check

in addition, hk government has been working closely with relevant authorities of the guangdong province and the macao sar on mutual recognition of test results and mutual exemption from compulsory quarantine. 
 
the chief executive carrie lam said on tuesday that hk’s own health code system is likely to be announced this week
 
related article:  
– 04 –
foreign airlines plan to resume flights to china in july

new chinese policies affect you from today! let's check

with business activity in china recovering, 16 foreign airlines including delta, united airlines and singapore airlines have unveiled plans to resume flights to china’s major cities, according to chinese travel agency qunar. 
 
according to the agency, shanghai is the most popular destination as 10 foreign airlines put the city as their first choice to resume flights to china. 
 
other major cities including dalian, chongqing and guangzhou have at least one planned overseas route operated by a foreign carrier.
 
some domestic airlines such as air china, china eastern airlines and china southern airlines have also announced their plans for international routes. 
related article:  
 
– 05 –
you can enjoy a higher quota for duty-free shopping in hainan

new chinese policies affect you from today! let's check

china’s hainan province will increase its annual tax-free shopping quota for travelers. 
 
with effect from wednesday, the quota will be raised to 100,000 yuan (about $14,123) per person each year from the previous 30,000 yuan, the mof and china’s customs and taxation authorities said in a joint statement. 
 
the categories of duty-free goods will also be expanded, said the statement, while some electronic products will be added to the duty-free list. 
– 06 –
bye bye paper tickets! now you can use mobile payment to take these intercity rails

new chinese policies affect you from today! let's check

starting on june 28, guangdong residents can take the train as easily as taking the metro! passengers will be able to use alipay to take three intercity routes including: 
 
  • guangzhou-shenzhen intercity railway 
  • guangzhou-foshan-zhaoqing intercity railway 
  • guangzhou-huizhou intercity railway 
you don’t have to buy paper tickets ahead of boarding anymore. the station will deduct the full fare from your alipay account when you get on, then refund any extra money according to the station where you actually get off. 
 
new chinese policies affect you from today! let's check

new chinese policies affect you from today! let's check

△ you can access the service by searching “广铁城际通” on the alipay app. 

 
so far 51 railway stations in 6 cities, including guangzhou, shenzhen, dongguan, huizhou, foshan, and zhaoqing have adopted the mobile payment, which will greatly improve the transportation convenience of the guangdong-hong kong-macao greater bay area. 
– 07 –
finally! chinese super league to kick off on july 25

new chinese policies affect you from today! let's check

the chinese football association (cfa) announced on wednesday that the postponed chinese super league (csl) 2020 season, which was originally scheduled to begin on february 22, will kick off on july 25
 
“to satisfy people’s eager anticipation for the restoration of the csl, the cfa decided that the 2020 csl will be held on july 25 in suzhou and dalian,” it said in a statement. 
 
the schedules of china’s second- and third-tier professional football leagues have not been decided yet. 
 
– 08 –
india bans 59 chinese apps, including tiktok and wechat

new chinese policies affect you from today! let's check

india’s ministry of electronics and information technology on monday stated that 59 apps including the wildly popular tiktok, wechat and weibo have been banned in india. 
 
new chinese policies affect you from today! let's check
new chinese policies affect you from today! let's check
 
the ban is already affecting millions of users across india, who are unable to use the blacklisted apps. if you are users of the apps, please be noted. 
 

new chinese policies affect you from today! let's check

in order to help you reach the latest update on the global pandemic situation, hacos has set a quick link on the menu of our wechat page. follow us, you can check it whenever you want! 

new chinese policies affect you from today! let's check

share to let your friends know!

new chinese policies affect you from today! let's check

source | china gov / xinhua / encs

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new chinese policies affect you from today! let's check

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