18 August 2024
On 18 August 2024, the Authority of Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone of Shenzhen Municipality issued the “Guidelines for Defining Preferential Industries for Corporate Income Tax in Qianhai” (“the Guidelines”). The Guidelines proposed that it is difficult for tax authorities to define whether the main business of enterprises in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone belongs to the “Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone Corporate Income Tax Preferential Catalogue (2021 version)” and the Qianhai Authority shall be responsible for issuing opinions. Upon rendering an acceptance decision, the Qianhai Authority is required to provide the opinions to the tax authorities within 30 working days. The Guidelines are effective from 1 September 2024 and will be valid until 31 December 2026.