30 May 2025
The Shenzhen Municipal Finance Bureau (“the authorities”) issued the “Notice in relation to “Application Guidelines for Financial Subsidies for Individual Income Tax Preferential Policies in the Guangdong-Hong Kong-Macao Greater Bay Area for the Tax Year 2024”” (“the Notice”) on 30 May 2025. The authorities proposed that qualified foreign talents working in Shenzhen Municipality are eligible to apply for financial subsidies for the portion of their individual income tax paid in the 2024 tax year that exceeds 15% of their taxable income. The maximum amount of financial subsidy for individual income tax in 2024 shall not exceed RMB5 million.