Seminar on GBA Preferential Individual Income Tax Policies in Shenzhen

2024-05-23 | South China

Seminar on GBA Preferential Individual Income Tax Policies in Shenzhen

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, with a particular emphasis on the unique challenges and opportunities for European SMEs operating in the region.

This seminar featured insights from local government entities. Cao Jianhui, Director of Talent Development at the Finance Bureau of Shenzhen Municipality, emphasized making Shenzhen attractive for international talent, including European SMEs. He Xiaoji, Deputy Director of Regulations and Tax Administration, detailed the guide on declaring individual income tax subsidies for high-end talents. Chen Xin from the Human Resources and Social Security Administration explained the practical application of these tax policies, ensuring European SMEs understood 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. The insights and strategies provided during the seminar will help European SMEs leverage these tax benefits, enhancing their competitiveness in the market and supporting their growth in the region.