CHINA - Notice on individual income tax preferences for Guangdong-Hong Kong-Macau Greater Bay Area
To support the development of the Guangdong-Hong Kong-Macau Greater Bay Area, the Ministry of Finance and the State Taxation Administration released the Notice on Individual Income Tax preferences for Guangdon-Hong Kong-Macau Greater Bay Area (Cai Shui  No. 31, hereinafter referred to as “Notice No.31”).
Notice No. 31 stipulates that Guangdong Province and Shenzhen Municipality shall, in accordance with individual income tax differences between the Mainland and Hong Kong, grant subsidy for overseas (including Hong Kong, Macau and Taiwan) high-end talents and highly sought-after talents working in the Greater Bay Area. Such subsidy shall also be exempted from individual income tax.
The scope of application of this Notice shall include nine municipalities in the Greater Bay Area Pearl River Delta namely:
- Guangzhou Municipality
- Dongguan Municipality
- Zhongshan Municipality
- Jiangmen Municipality
- Huizhou Municipality
- Zhaoqing Municipality