Preferential tax rates implemented for skilled workers in Hengqin

Domestic and overseas talent in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin will not have to pay tax exceeding 15 percent of personal income, the Guangdong Provincial Taxation Bureau has recently announced.

In a statement issued on the cooperation zone’s website, the scope of new preferential individual income tax policies also covers comprehensive income, operating profits, subsidies and other labor income for eligible taxpayers.

The overall development plan for the cooperation zone, released in early September 2021, states that measures will be rolled out to attract international top-notch, high-caliber talent, and skills in short supply. In response, a list of skilled workers who qualify for the favorable tax policies and related measures will be jointly formulated by Guangdong and Macau prior to approval by the Leading Group for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area.

Meanwhile, Macau residents working in the zone will have the portion of their personal income tax burden exceeding Macau standards classed as exempt. This is to facilitate the construction of Hengqin as a new place for Macau people to live and work, and lay the foundations for a new system of high-level integration with Macau.

Approximately 10,000 domestic and overseas workers living and working in the cooperation zone will benefit from the new policies. More high-end professionals with global ambitions will be enticed to settle in Hengqin, said a spokesperson from the Guangdong Provincial Taxation Bureau. LV