25 November 2023
The State Taxation Administration (“the authorities”) issued the “The Compilation of Extension for Optimizing and Improving Tax Preferential Policies (2023 Edition)” (“the Compilation”) on 25 November 2023. The authorities announced the implementation of a series of extension, optimization and improvement of tax preferential policies. These policies include providing subsidies to overseas (including Hong Kong, Macao and Taiwan) high-end talents and talents in shortage working in the Greater Bay Area on the difference in individual income tax burden between Mainland China and Hong Kong in Guangdong Province and Shenzhen Municipality. The subsidy is exempted for individual income tax. This Notice shall be valid until 31 December 2027. For other tax preferential policies, please refer to the Compilation.