18 April 2024
Ministry of Finance of Shenzhen Municipality and the Shenzhen Municipal Tax Service, State Taxation Administration (“the authorities”) forwarded the “Notice in relation to Individual Income Tax Preferential Policies for the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone from the Ministry of Finance and the State Taxation Administration” (“the Notice”) on 18 April 2024. The authorities announced that Hong Kong residents working in Qianhai, shall be exempted for individual income tax for the portion of their individual income tax burden exceeding that of Hong Kong. This Notice shall be effective from 1 January 2023 and valid until 31 December 2027.