Recently, the notice of the Ministry of Finance and the State Administration of Taxation on the preferential policies for individual income tax in Hengqin Guangdong Macao deep cooperation zone was officially released. The benefits and preferential efforts of the preferential policies for individual income tax have been further strengthened: for high-end and scarce talents working in the cooperation zone, the part with an individual income tax burden of more than 15% will be directly exempted; For Macao residents, the part of their personal income tax burden exceeding the tax burden of Macao shall be exempted. "This new deal has three characteristics: wide beneficiary groups, strong preferential policies and more convenient enjoyment." According to the relevant person in charge of Guangdong Provincial Department of finance, since 2019, the cooperation zone has uniformly applied the preferential policies of individual income tax in Guangdong, Hong Kong, Macao and Dawan district. Compared with the original policy, the new policy has significantly expanded the beneficiary groups - both domestic and foreign talents are covered, which is conducive to attracting "highly skilled and top-notch" talents at home and abroad and Macao residents to work and start businesses in the cooperation zone. In terms of preferential strength, after the implementation of the policy, the actual tax burden of domestic and foreign talents will not exceed 15%. Compared with China's current individual income tax rate, the actual tax burden level of domestic and foreign talents working in the cooperation zone will be significantly reduced. At the same time, in order to create a livable and professional living environment that converges with Macao, the personal income tax burden of Macao residents in the cooperation zone will be consistent with that of Macao, which is conducive to promoting the construction of a new home that facilitates the life and employment of Macao residents. At the same time, the way to enjoy the policy will be more convenient. The individual income tax preferential policy includes comprehensive income, business income, subsidized income and other labor income into the scope of preferential policies. It is clear that the way of enjoying the policy is that the tax burden of more than 15% is directly exempted, and the tax bureau will directly handle the tax refund when the personal income tax is settled, which further simplifies the procedures and improves the efficiency, and greatly improves the sense of gain of preferential groups, Lay a good foundation for accelerating the construction of a new system of high-level integration and opening with Macao. (Xinhua News Agency)
Edit：Huang huiqun Responsible editor：Su Suiyue
Source：southcn.com
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