Macau Financial Services Bureau Issues Circular on Tax Incentives Under Talent Recruitment System

The Macanese Financial Services Bureau Aug. 25 issued Circular No. 003/DIR/2023, on guidelines for the application of tax incentives under the talent recruitment system. Topics covered include: 1) the list of documents required for applicants seeking tax concessions on transfer stamp duty, urban housing tax, income supplementary tax, and professional tax; 2) requirements for in-person and electronic applications, including a downloadable form; 3) taxpayer notification rules; 4) the list of applicable tax benefits; 5) the requirement that taxpayers repay incentives if exempted property is transferred or used for other purposes within five years from the date of exemption; and 6) ...