17 May 2024
The Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Taxation Bureau of the State Taxation Administration, Shenzhen Municipal Bao’an District Tax Service, State Taxation Administration (“the authorities”) issued the “Notice in relation to the 2023 Application Guidelines of Individual Income Tax Preferential Policies in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone” (“the Notice”) on 17 May 2024. The authorities announced that Hong Kong residents working in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, shall be exempted for individual income tax for the portion of their individual income tax burden exceeding that of Hong Kong. The settlement and payment date of the comprehensive annual individual income tax is from 1 March 2024 until 30 June 2024.