25 April 2024
On 25 April 2024, the Ministry of Finance and the State Taxation Administration issued the “Guidelines on Preferential Tax Policies on Supporting the Development of Manufacturing Industry” (“the Guidelines”). The Guidelines include the preferential corporate income tax (“CIT”) policy for enterprises in the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. According to the Guidelines, eligible enterprises in specific areas of the Shenzhen Park that fall under the encouraged industries category will enjoy a reduced CIT rate of 15%. The preferential tax rate will be applicable from 1 January 2023 to 31 December 2027.