Establishing Modern Tax Sharing System in Guangdong-Hong Kong-Macao Greater Bay Area

Establish a modern tax system in Guangdong-Hong Kong-Macao Greater Bay Area?

At the 50th anniversary of the establishment of Hong Kong Taxation Institute and the seminar of chartered tax agents in Hong Kong, Deputy Secretary of the Party Committee of Guangdong Provincial Taxation Bureau and Director of Guangzhou Taxation Bureau of State Taxation Administration of The People's Republic of China were invited to give a keynote speech on "Greater Bay Area overcoming difficulties, striving for development and building a modern tax system from the perspective of Guangdong-Hong Kong-Macao Greater Bay Area's all-round cooperation". Focusing on tax modernization and serving China's modernization, the Director introduced the concept and path of "building a modern tax system in Guangdong-Hong Kong-Macao Greater Bay Area" to overseas and domestic tax professionals attending online and offline meetings, and put forward four initiatives to unite the tax forces of Hong Kong and Macao and seek the integrated development of Guangdong-Hong Kong-Macao Greater Bay Area.

In his speech, the Director introduced Guangzhou's sufficient development advantages in terms of industrial ecology, innovation momentum and business environment, and the new opportunities for all-round cooperation between Guangdong, Hong Kong and Macao brought by the State Council's "Overall Plan for Deepening Guangdong, Hong Kong and Macao's All-round Cooperation with the World in Nansha" this year, and reviewed the development achievements of Guangzhou Taxation in serving the overall economic and social development of Guangzhou, deepening the reform of tax collection and management, and promoting the implementation of the "Twelfth Development Strategy and Action Plan". The Director stressed that under the complicated background of global economic and tax development, in order to overcome the difficulties, Guangdong-Hong Kong-Macao Greater Bay Area cities need to strengthen cooperation and achieve a win-win situation, and the tax authorities of core cities such as Guangzhou, Shenzhen, Hong Kong and Macao should shoulder the tax mission and responsibility.

On the basis of "tax modernization serves China's modernization", the Director explained that tax * * * governance * * enjoyment is an important path to promote the integrated development of Guangzhou and Hong Kong, a key area to build a comprehensive cooperation platform for Guangdong-Hong Kong-Macao Greater Bay Area, and an important content for China to participate in the global tax governance reform. Taking "Guangzhou-Hong Kong tax cooperation" as a practical sample, the leading direction is to promote the institutional opening of Guangdong-Hong Kong-Macao Greater Bay Area and the trend of international multi-party tax cooperation. The exploration idea and practice plan of building a modern tax system in Guangdong-Hong Kong-Macao Greater Bay Area with "cross-regional, cross-departmental, multi-agent, intelligence-driven and international integration development" will gradually promote the realization of a comprehensive modern tax system in Greater Bay Area and contribute replicable and popularized experience to China's tax modernization.

Focusing on the specific practice of creating a "cooperation sample" of Guangzhou-Hong Kong taxation, the Director put forward the initiative of * * * to build "four mechanisms":

The first is the long-term mechanism of tax assistance to enterprises and the government. From the perspective of taxation, we jointly put forward suggestions that break through the existing rules but are conducive to industrial coordination and talent exchange between Guangzhou and Hong Kong, promote the interconnection and integration of the two places in the advantageous fields of finance and insurance, scientific and technological innovation, and provide personalized tax service solutions for enterprises investing and operating in Guangzhou and Hong Kong.

The second is the research mechanism of institutional innovation. Normalization research solves the problem of tax supervision docking between the two places, such as: Hong Kong residents enjoy Nansha tax preferential policies and other key issues involving taxpayers' rights and interests; Guided by promoting the development of digital economy in the two places, we will carry out forward-looking research on new global tax rules such as the "two pillars of economic digitalization" plan; Explore tax policies and collection and management services that can be linked and cooperated between the two places.

The third is the cross-domain digital tax collection and management service cooperation mechanism. Comply with the development trend of "digital transformation" of modern tax collection and management, promote the cooperation between the two places in digital tax collection and management and services, and explore the introduction of "Guangzhou tax code" on the basis of "Guangzhou tax code" to realize mutual recognition of tax credit evaluation information and evaluation results between the two places, and promote the construction of a harmonious tax ecology between the two places.

Fourth, the personnel tax exchange mechanism between Guangzhou and Hong Kong. Explore the establishment of a cross-border practice service center for tax-related professionals in Hong Kong and Macao to realize one-stop acceptance, full service and rapid response of cross-border practice of tax-related professionals in Hong Kong and Macao; Relying on the online and offline communication platforms such as the first tax history education base in Nansha, Guangdong Province, we will organize people from both places to carry out various forms of "tax culture exchange" activities in Guangzhou and Hong Kong, and invite people from all fields in Hong Kong to join the team of "tax consultants" and "tax service experiencers" in Guangzhou to promote "tax integration" with "empathy".

It is understood that at the seminar of chartered tax agents in Hong Kong, the heads of tax bureaus in Greater Bay Area's core cities such as Hong Kong and Shenzhen, and well-known experts and scholars from many tax-related professional institutions at home and abroad such as the British Chartered Tax Agents Association and internationally renowned accounting firms also gave keynote speeches. Participants discussed and exchanged views on the frontier trend of global tax reform and the development of Hong Kong's tax system.