China to extend tax relief for overseas talent working in GBA

China will extend the preferential tax policy for overseas talent working in the Guangdong-Hong Kong-Macao Greater Bay Area to Dec. 31, 2027 to support the area’s development, the Ministry of Finance (MOF) said on Friday. High-calibre overseas talent and professionals in short supply who work in the Greater Bay Area will receive subsidies from Guangdong Province and Shenzhen Municipality to offset the difference between the individual income tax on the Chinese mainland and in Hong Kong. The subsidies will be exempt from individual income tax, said the circular.