[Hybrid] IIT Clarity for Expats in China: Benefits Extension and Accessing the GBA IIT Subsidies in 2023

Presenter(s):

• 

  Amber Liu

  Senior Manager, Corporate Accounting Services
  

• 

  Karen Liu

  Senior Associate, Corporate Accounting Services
  

• 

  Guilherme Campos , Alumna

  Manager, International Business Advisory
  

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China has extended the preferential IIT policy on foreigners’ fringe benefits. Originally set to expire at the end of 2023, this policy has been prolonged for an additional four years, until December 31, 2027. This came at the same time when China extended the annual one-time bonus of both foreign and Chinese resident taxpayers, to the same date. This extension will be beneficial for all foreign individuals working in China and companies seeking to retain foreign talent.

Furthermore, the flagship IIT policy for foreign talent working in GBA has officially kickstarted again in 2023, after being put on the back burner in 2022. Shenzhen has already released guidelines for application, while Guangzhou has updated its requirements for foreign talent to access the subsidy. We anticipate that more implementation details will soon be unveiled for other GBA cities.

In this hybrid seminar, our experts provide insights into the impact of recent changes in China's IIT preferential policies. We will also offer guidance about making applications for this year's GBA IIT subsidy, specifically for Shenzhen, and discuss the status of the IIT subsidy policy in Guangzhou, Foshan, and Dongguan, preparing expats for upcoming changes.