8 May 2019
Are businesses located within the Greater Bay Area eligible for any specific tax concessions?
The February 2019 Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area specifies that significantly enhancing the combined resources of the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), boosting development, optimising the industrial structure and facilitating the smooth flow of any required factors are the key priorities.
In line with this, the central mainland government earlier introduced measures allowing the municipal authorities with responsibility for the mainland cities within the GBA to provide tax relief to non-mainland (including Hong Kong) high-end personnel and to those with priority skill sets by offsetting the differential in their individual income tax obligations. The development plan, however, did not specify the provision of tax concessions for GBA-located businesses.
For further details, please access the following links: