06 February 2024
The Ministry of Finance of Shenzhen Municipality, the Shenzhen Municipal Tax Service of the State Taxation Administration (“the authorities”) issued the “Notice in relation to Individual Income Tax Preferential Policies in Shenzhen-Hong Kong Innovation and Technology Cooperation Zone Shenzhen Park” (“the Notice”) on 6 February 2024. The authorities announced that Hong Kong residents working within Shenzhen Park, shall be exempted for individual income tax for the portion of their individual income tax burden exceeding that of Hong Kong. This Notice shall be effective from 1 January 2024 and valid until 31 December 2027.