The Tax Bureau of the Guangdong-Macao In-depth Cooperation Zone in Hengqin has announced 16 measures to support the high-quality development of the "Macao+Hengqin" industrial sector. These measures focus on implementing preferential tax policies to facilitate the development of Hengqin's four new industries and enhance cross-border collaboration.

The measures emphasize the efficient implementation of policies, particularly those targeting high-end andb urgently needed talent, as well as individual income tax benefits for Macao residents. By optimizing the scope of these policies and improving service quality, Hengqin aims to attract elite, cutting-edge, and scarce talent while encouraging Macao youth to innovate and start businesses in the cooperation zone.

Supporting the four new industries and cross-border tax collaboration

The measures highlight the importance of supporting the four new industries: technology research and development, Macao brand industries, cultural tourism, and modern finance. By leveraging tax policies, the cooperation zone seeks to create a favorable environment for these industries to thrive.

A significant aspect of the measures is the enhancement of cross-border tax collaboration. The Tax Bureau plans to strengthen tax cooperation with Macao SAR and even Portuguese-speaking countries, such as Portugal, Brazil, and Angola. This collaboration aims to assist enterprises in the cooperation zone in going global.

Strengthening Macao-Hengqin cooperation and facilitating the practice of Hong Kong and Macao tax professionals

The measures also focus on deepening tax collaboration with Macao. The Tax Bureau will explore innovative tax cooperation models and enhance collaboration in taxation services and collection management.

Notably, the measures aim to facilitate the practice of Hong Kong and Macao tax professionals in the cooperation zone. By simplifying the practice registration process and expanding the functionality of Hong Kong and Macao tax services, the Tax Bureau seeks to enhance convenience for tax practitioners from both regions.

These initiatives reflect Hengqin's commitment to leveraging tax services to drive industrial innovation and cross-border collaboration, solidifying its role as a key player in the development of the Guangdong-Hong Kong-Macao Greater Bay Area.

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