Regional Tax Incentives Available in Shenzhen
According to the relevant regulations of the State Taxation Administration of the PRC, the current regional tax incentives available in Shenzhen mainly include:
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Qianhai
1.1
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Corporate Income Tax Incentive
Qualified enterprises established in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone may enjoy a reduced corporate income tax rate of 15%. The relevant enterprises shall satisfy the following conditions:
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Mainly engaged in the encouraged industries listed in the Catalogue of Preferential Corporate Income Tax in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (2021 Edition), and the main business income accounts for at least 60% of the total income.
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Carry out a substantive operation in Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone. If an enterprise is registered in the cooperation zone only, while any of its production and operation, personnel, finance, or property etc. are not in the zone, it will not be considered to have substantial operations in the zone and thus cannot enjoy the corporate income tax incentive.
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1.2
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Individual Income Tax Incentive
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Hong Kong residents working in Qianhai Shenzhen-Hong Kong Modern Services Industry Cooperation Zone may be exempted from paying the portion of their individual income tax that exceeds the tax they would have paid in Hong Kong.
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As a part of the Guangdong-Hong Kong-Macau Greater Bay Area, qualified high-end and urgently needed talents working in Qianhai Shenzhen-Hong Kong Modern Services Industry Cooperation Zone may apply for a financial subsidy to cover the proportion of their individual income tax paid in Shenzhen that exceeds 15% of their taxable income. This financial subsidy is exempt from individual income tax.
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Hetao
2.1
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Corporate Income Tax Incentive
Qualified enterprises established in the specified areas of the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone (starting from the Huanggang Port in the east, the Shenzhen River in the south, Xinzhou River in the west, and Ronghua Road in the north) may enjoy a reduced corporate income tax rate of 15%. The relevant enterprises shall satisfy the following conditions:
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Mainly engaged in the encouraged industries listed in the Catalogue of Preferential Corporate Income Tax in the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, and the main business income accounts for at least 60% of the total income.
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Carry out a substantive operation in the specified areas of the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone. If an enterprise is registered in the specified areas only, while any of its production and operation, personnel, finance, or property etc. are not in the specified areas, it will not be considered to have substantial operations in the specified areas and thus cannot enjoy the corporate income tax incentive.
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2.2
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Individual Income Tax Incentive
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Hong Kong residents working in the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone may be exempted from paying the portion of their individual income tax that exceeds the tax they would have paid in Hong Kong.
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As a part of the Guangdong-Hong Kong-Macau Greater Bay Area, qualified high-end and urgently needed talents working in the Shenzhen Park of the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone may apply for a financial subsidy to cover the proportion of their individual income tax paid in Shenzhen that exceeds 15% of their taxable income. This financial subsidy is exempt from individual income tax.
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