The Guangzhou Municipal Tax Service, State Taxation Administration issued a tax service guide on August 9 to be used in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA). Tax officials also held an interpretation session for preferential policies of sci-tech enterprises and for Hong Kong, Macao youth entrepreneurship in the GBA.
The service guide introduces the background, strategic positioning and overall requirements of the GBA. Officials said that it took more than six months to collect fiscal and taxation information related to people's livelihood, the construction of an international sci-tech innovation center, the construction of major projects, and ecological environmental protection, which are all related to GBA development.
In order to service the sci-tech innovation development of the GBA, a variety of policies have been released recently, in which personal income tax preferential policies have received much attention. Through the interpretation of GBA-related tax policies and services, the new tax guide can provide tax policy support for taxpayers in the GBA. According to one Guangzhou Municipal Tax Service official, it is essential to release the tax service guide.
The service guide has received support from scholars, tax payers associations, and heads of foreign investment associations. The guide uses chapters and vivid examples to introduce and detail relevant policies.
"Such a kind of guide and interpretation helps to clear up any confusion. Now I know which (taxes) I should declare and which (taxes) I should not," said one representative of a Guangzhou-based IT company.