19 January 2024
On 19 January 2024, the Ministry of Finance of Shenzhen Municipality and the Shenzhen Municipal Tax Service, State Taxation Administration forwarded the "Policies on Preferential Corporate Income Tax Treatment for the Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone" (“the Policies”) from the Ministry of Finance and the State Administration of Taxation. The policies propose to reduce the corporate income tax to the rate 15% for eligible enterprises in encouraged industries located in specific closed areas of the Shenzhen Park of Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. The policies are effective from 1 January 2023 and will be valid until 31 December 2027.