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Tax boost for Hainan FTP
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Master Plan Unveiled for Hainan Free Trade PortOn 30 June 2020, the Ministry of Finance together with the State Taxation Administration released the <Circular about Preferential Enterprise Income Tax Policy for Hainan Free Trade Port>, and the <Circular about Individual Income Tax Policy for High-end and Urgently Needed Talents at Hainan Free Trade Port>. The two circulars will be implemented from January 1, 2020 until December 31, 2024.6月30日，财政部、税务总局发布《关于海南自由贸易港企业所得税优惠政策的通知》和《关于海南自由贸易港高端紧缺人才个人所得税政策的通知》，执行日期均为2020年1月1日至2024年12月31日。
According to the circulars, for high-end and urgently needed talents working at the Hainan Free Trade Zone, the individual income tax rate is capped at 15%, meaning the portion of the actual tax burden of individual income tax exceeding 15% shall be exempted.根据《通知》规定，对在海南自贸港工作的高端人才和紧缺人才，其个人所得税实际税负超过15%的部分予以免征, 即其个人所得税实际税负超过15%的部分，予以免征。
The income referred to in the above-mentioned preferential policies includes the comprehensive income derived from Hainan’s Free Trade Port (including wages and salaries, labor remuneration, copyright remuneration, royalties), operating income and the subsidized income of talents recognized by Hainan Province.享受上述优惠政策的所得包括来源于海南自由贸易港的综合所得（包括工资薪金、劳务报酬、稿酬、特许权使用费四项所得）、经营所得以及经海南省认定的人才补贴性所得。
For companies that are registered at the Hainan Free Trade Port and operate the business substantially from this location, the corporation tax is reduced to 15%. Income on additional overseas direct investments by companies in tourism, modern services, or the high-tech sector will be exempted from corporation tax altogether.对注册在海南自贸港并实质性运营的鼓励类产业企业，减按15%的税率征收企业所得税；设立的旅游业、现代服务业、高新技术产业企业新增境外直接投资取得的所得，免征企业所得税等。
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