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News Flash China Tax and Business Advisory February 2013 Issue 5 Our contacts for tax and business Update on China individual experts in the South Region income tax rebate in Hengqin Tim Leung Island for Hong Kong and Tel: +852 2289 3055 Macao residents tim.leung@ Back in September 2011, in Issue 26 of our News Reynold Hung Flash, we first brought out that a series of innovative Tel: +852 2289 3604 tax, customs, finance, and land policies offered to reynold.hung@ Hengqin Island (“Hengqin”) within the Zhuhai Special Charles Lee Economic Zone (which is a coastal city in south-east Tel: +86 (755) 8261 8899 China) were approved by the State Council. As part of these preferential policies, it was announced that Hong charles.lee@ Kong/Macao residents working in Hengqin could Grace Cheung receive the China Individual Income Tax (“IIT”) rebate Tel: +853 8799 5121 from the Guangdong provincial government so that grace.cheung@ their effective China IIT burden would be close to what they should pay if they have instead been working in Rebecca Wong Tel: +86(755) 8261 8267 Hong Kong/Macao. rebecca.s.wong@ In December 2012, the Provincial Finance Bureau of Guangdong issued the Provisional Administrative Our International Assignment Measures on the Individual Income Tax Rebate for Services Team Contacts in the Hong Kong and Macao Residents Working in South Region Hengqin New Area of Zhuhai (the “Hengqin IIT Rebate Me