Seminar on GBA Preferential Individual Income Tax Policies in Shenzhen

2024-05-23 | South China

On May 23, 2024, the South China Chapter of the European Chamber hosted a seminar focused on the extended preferential individual income tax policies in the Guangdong-Hong Kong-Macao Greater Bay Area, effective until December 31, 2027  in collaboration with the Finance Bureau of Shenzhen Municipality and the Human Resources and Social Security Administration of Shenzhen Municipality. The event aimed to guide high-end and urgently needed foreign talents on how to benefit from these policies.

This seminar featured key insights from local government entities. Cao Jianhui, Director of the Talent Development and Cooperation Department of the Finance Bureau of Shenzhen Municipality, highlighted the importance of collaborative effort to make Shenzhen an attractive hub for international talent. He Xiaoji, Deputy Director of the Regulations and Tax Administration Department of the Finance Bureau of Shenzhen Municipality, delivered a comprehensive interpretation of the guide, focusing on the declaration of individual income tax financial subsidies for high-end talents and those in short supply outside Shenzhen. Following this, Chen Xin from the Human Resources and Social Security Administration of Shenzhen Municipality explained the practical operation of these tax preferential policies, providing members with a clear understanding of the application processes and eligibility requirements.

The seminar concluded with an interactive Q&A section, where members engaged directly with the speakers to clarify doubts and gain deeper insights into the subsidy application and policy benefits. This part of the seminar was particularly valuable as it allowed for real-time discussion and resolution of specific queries, further enhancing the participants' understanding of the tax benefits.

The seminar effectively clarified the subsidy processes and tax benefits, ensuring members left with a clear understanding of how to navigate the policies. This event has reinforced the Greater Bay Area’s position as an appealing destination for global professionals, aligning with Shenzhen’s strategic efforts to attract international expertise and foster economic growth.