Guangdong Department of Finance issued on June 22, 2019 the Circular about Implementing Preferential Individual Income Tax Policies at the Guangdong-Hong Kong-Macau Greater Bay Area. The circular has been effective from January 1, 2019 and might be amended one year later.
According to the circular, high-end and badly-needed overseas talents working in the GBA can be eligible to claim fiscal subsidies if their individual income tax rate is more than 15%. The subsidies will be granted by municipal governments of nine GBA cities in the mainland.
According to the circular, the fiscal subsidies will cover such forms of income as wages, remuneration for personal services, royalties, business income, as well as allowances for honorary talent programs. The subsidies are designed to encourage foreign professionals to work and create their own businesses in the GBA.