On June 2, the authority of the Guangdong-Macao In-Depth Cooperation Zone in Hengqin released 25 tax-related measures.
The tax measures intend to provide enterprises and individuals services in their investment, work and living in the Cooperation Zone, and help the Zone create a favourable business and living environment, according to a spokesperson of the taxation authority of the Cooperation Zone.
Currently, the authority is offering preferential income tax policies for both enterprises and individuals. Enterprises that settle their production and operation, personnel, finance and property in the Cooperation Zone can enjoy 15% preferential tax relief. Qualified high-end and in-demand talent can enjoy preferential personal income tax policies in the Zone.
Statistics show that in the first quarter of this year, enterprises in the Cooperation Zone have enjoyed 15% enterprise income tax relief worth about 200 million RMB during withholding tax declaration.
The authority implements preferential income tax policies targeting at high-tech enterprises, incubators of sci-tech enterprises, maker spaces, stock-based incentives as well as entrepreneurship and investment.
The tax authority also boosts the Macao New Neighbourhood project, solving tax issues related to housing, education, community services and medical care.
Later on, the authority will focus on cross-border mutual establishment of intelligent terminals, and introduce a list of approved tax-concerning documents of Macao. Moreover, Hengqin also plans to set up a special window for Macao-based enterprises and residents at the local taxation administration. These efforts aim to make tax service system more in line with the system in Hong Kong and Macao.
According to the measures, the Zone will conduct tax-themed studies for Portuguese-speaking countries and regions, and introduce tax and investment guidelines for investors from those countries and regions. Overseas investors will be granted tax deferral for the reinvestment of profit made in Hengqin.
Click here for the full text of the tax measures: https://guangdong.chinatax.gov.cn/gdsw/zhhqsw_tzgg/2023-06/02/content_2f5b629558464de7b5d15e00f3148b34.shtml
Author | Nancy Ye
Editor | Wing, Nan, Abby, James
Photo provided to GDToday
