18 August 2023
The Ministry of Finance and the State Taxation Administration (“the authorities”) issued the “Notice in Relation to the Implementation for Extension of Individual Income Tax Preferential Policies in Guangdong-Hong Kong-Macao Greater Bay Area” (“the Notice”) on 18 August 2023. The authorities announced to provide continued support to the establishment of the Guangdong-Hong Kong-Macao Greater Bay Area, Guangdong Province and Shenzhen Municipality shall provide subsidies for the individual income tax differences between Mainland and Hong Kong to high-end and high-demand talents from overseas (including Hong Kong, Macao and Taiwan) working in the Greater Bay Area. These subsidies shall be exempt from individual income tax. These Measures shall be valid until 31 December 2027.