14 June 2024
The Shenzhen Tax Service, State Taxation Administration, the Shenzhen Municipal Finance Bureau and the Shenzhen Municipal Human Resources and Social Security Bureau issued the “Notice in relation to Optimizing and Adjusting the Declaration and Payment Procedures of Social Insurance Premium” on 14 June 2024. From 1 July 2024, employers and individuals (“payers”) are no longer required to pre-declare their salaries to social security agency before making payment to the tax authorities. Instead, the declaration and payment procedures shall be optimised and adjusted so that payers will report and settle social security contributions directly to the tax authorities.