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Guangdong Clarifies Greater Bay Area Income Tax Policies

The Guangdong Department of Finance has clarified two key aspects of the province’s preferential income taxes as they apply to individuals working within the Greater Bay Area (GBA):

i) High-end international talents and talents in short supply working in the GBA are eligible for a financial subsidy equal to the amount of any individual income tax levied in one of the nine Pearl River Delta cities in excess of 15% of their taxable income. The subsidy is granted by the local government with the relevant jurisdiction and is, thus, deemed exempt from individual income tax

ii) The tax referred to here is the individual income tax due in accordance with the Individual Income Tax Law of the Peoples Republic of China, with wages / salaries, remuneration for services rendered, income from authorial fees, royalties and other forms of business income all falling within its remit

The clarification follows an earlier circular jointly-issued by the Ministry of Finance and the State Administration of Taxation: Individual Income Tax Preferential Policies for the Guangdong-Hong Kong-Macao Greater Bay Area (Cai Shui No. 31 [2019]).

For further details (in Chinese), please access the following link:

Circular on Implementing Individual Income Tax Preferential Policies in the Guangdong-Hong Kong-Macao Greater Bay Area (Yue Cai Shui No. 2 [2019])

Individual Income Tax Subsidies on Offer in Greater Bay Area

Content provided by Picture: HKTDC Research
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