Foreign experts attend a seminar organized by the Science and Technology Department of Guangxi Zhuang Autonomous Region. (PHOTO: Science and Technology Department of Guangxi Zhuang Autonomous Region)

By?Staff?Reporters

China has further extended preferential tax policies for foreign nationals working within its borders, demonstrating its resolve to foster a favorable environment for foreign experts and professionals.

According to a notice jointly issued by the Ministry of Finance and the State Taxation Administration on August 29, the policy will remain in effect until the end of 2027.

In 2018, the two government bodies introduced a policy that allowed eligible foreign individuals meeting certain residency conditions to enjoy tax benefits related to housing subsidies, language training, and children's education from January 1, 2019, to December 31, 2021.

To alleviate the tax burden on individuals, on December 31, 2021, China issued another announcement that extended the implementation period of the preferential tax policy until December 31, 2023.

China's commitment to providing attractive tax incentives for foreign nationals highlights its determination to enhance its global competitiveness, foster innovation, and continue its journey toward economic progress and prosperity.