1. According to the article 2 clause 10 and article 3 clause 5 of Individual Income Tax Law of the People’s Republic of China, people who get occasional income should be the personal income tax payers and pay taxes according to law. All the occasional income should be the sum of taxable income, in the tax rate of 20%. According to the article 8 clause 10 of Regulations for the Implementation of the Individual Income Tax Law of the People’s Republic of China, occasional income means the personal prize money, lottery prize money and other kinds of occasion income. According to the clause 5 of the Interim Measures of Withholding Individual Income Tax and Payment of Withheld Tax, the company who pay the occasional income should be the withholding obligor. No matter where the awards are paid, the personal income tax should be paid by the company.
In summary, according to related tax laws and regulations, all the personal taxes of the prize money of the 4th Lotus Prize 2014 Innovation Design Award should be paid by the committee.
2. The award setting and prize money of some topics have some adjustment because the entry number is less than 30 or not qualified.
The topics with prize money adjustment are as follows:
AppMagic – appMagics Product and Web Design
Hunan Dongfang Shizhuang Co. Ltd – Business Casual Lifestyle Experience Design
Sunbird Yacht Co., Ltd – Digital•Ocean
Hunan Grand Pro Robot Technology Co. Ltd – Smart Domestic Robot Design
Guangzhou Low Carbon Industry Association – Upcycling of Industrial, Commercial and Lifestyle Leftovers
Mango V Fund – Mango V Fund Visual Branding and Creative Cultural Product Design
Mango V Fund – Mango V Fund Product Design
Taskin City – Future Urban Living and Social Innovation Design
Taskin City – Taskin City Square Community Public Facility (System) and Service System Design
China Italy Design (Hunan) Co., Ltd – Indoor Innovative Plant Growing Platform Design
Lotus Prize Competition Committee – Reading Research Report
3. All the Innovation Design Award prize money of the Incubation Program 24 finalists will be released after the award ceremony.
4. For those who haven’t sent the renderings in 300dpi, the committee will pay the prize money after receiving the supplementary materials.
The topic without the rendering: Hunan Dongfang Shizhuang Co. Ltd -Business Casual Lifestyle Experience Design.
5. Based on the company demands, some works need modifications according to the company practical requirements. The committee will pay the prize money after receiving the modified works ( physical models ).
The works which need modifications are as follows:
Mango V Fund -Mango V Fund Visual Branding and Creative Cultural Product Design
Academy Nine Cultural Communication Co. Ltd – Hunan Xiang Culture Product Design and Research
Hunan Yunifang Cosmetics Co., Ltd – Minimalistic Fashion, Natural Style
LotusPrize Competition Committee －Regional Promotion Proposal Based on the Kiln Culture in Changsha