Notice from Guangzhou Nansha Economic and Technological Development Zone Bureau of Commerce on Revising the Implementation Rules of the Measures for Promoting the Development of Modern Service Industry in Guangzhou Nansha New Area (Free Trade Zone)
Main revisions include changes in the names of the institutions involved, simplification of enterprise declaration materials and adjustment of the division of labour.
The Guangzhou Nansha Economic and Technological Development Zone Bureau of Commerce has issued a notice on revising the implementation rules of the measures for promoting the development of modern service industry in Guangzhou Nansha New Area (Free Trade Zone) on 25 August 2020. The main revisions of the revised draft include corresponding adjustments to the changes in the names of the institutions involved, simplification of enterprise declaration materials and adjustment of the division of labour. At the same time, the terms of the bulk commodity trading platform were adjusted from the modern service industry policy to the implementation of the financial policy and the terms of the second investment platform reward were deleted.
The revised edition also further elaborates on matters such as rewards, subsidies, service platforms and procedures for claiming and redemption. Among them, for international and Hong Kong, Macao and Taiwan accounting, legal, notarization and other professional service companies that are registered or recognized in the zone and have no bad practice records in violation of regulations, they will be rewarded for settlement according to the total tax payment in the zone in the previous year. In addition, Hong Kong, Macao and foreign talents can choose to apply for special talent rewards or reward subsidies based on the tax difference. Eligible international, Hong Kong, Macao and Taiwan professional service talents will also be given a one-time annual award of RMB 100,000 per person. These implementation rules came into force on 25 August 2020 and would be valid until 31 December 2021.