Notice on “Foshan Municipality Interim Measures Concerning Administration on Financial Subsidies Related to Individual Income Tax Preferential Policies in the Guangdong-Hong Kong-Macao Greater Bay Area” (Fo Cai Fa [2019] No.24)
31 October 2019
Foshan Finance Bureau, Foshan Science and Technology Bureau, Foshan Human Resources and Social Security Bureau and Foshan Tax Services Bureau, State Administration of Taxation jointly issued a notice on the interim measures concerning the administration on financial subsidies related to individual income tax preferential policies in the Guangdong-Hong Kong-Macao Greater Bay Area on 31 October 2019.
Overseas high-end talents and talents in shortage working in Foshan will receive financial subsidy for individual income tax exceeding 15% of taxable income. The subsidy is tax-free. The measures took effect on 1 January 2019 and are on trial for one year.