30 June 2021
The Finance Bureau of the Foshan Municipality issued the “Notice in relation to Issurance of the “Adminstrative Measures of the Preferential Individual Income Tax Policy in the Guangdong Hong Kong - Macao Greater Bay Area” (“the Measures”) of the Foshan Municipality” on 25 June 2021. Specific measures include offering individual income tax (“IIT”) financial subsidies to high-level talents and talents with short supply working in the Foshan Municipal Administrative Region for the portion exceeding 15% of their taxable income by the Foshan Municipality. The above financial subsidy will be exempted from IIT. The Measures are effective from 30 June 2021 and valid until 31 December 2023.