三部门：今明两年对个人投资者转让创新企业CDR取得的差价所得，暂免征收个人所得税

Core Viewpoint - The Ministry of Finance and two other departments announced a continuation of tax policies for innovative enterprises issuing depositary receipts (CDRs) in China, effective from January 1, 2026, to December 31, 2027, which includes tax exemptions for individual investors on capital gains and a differentiated tax policy on dividend income [1] Group 1: Tax Policies - From January 1, 2026, to December 31, 2027, individual investors will be exempt from personal income tax on capital gains from the transfer of innovative enterprise CDRs [1] - During the same period, a differentiated personal income tax policy will apply to dividend income received by individual investors from holding innovative enterprise CDRs, following existing regulations [1] - The tax on dividend income will be withheld and paid by the depositary institutions of the innovative enterprises, which must also report detailed tax information to the local tax authorities [1] Group 2: Tax Credits - Individual investors who have paid taxes on dividend income abroad may claim credits according to the personal income tax law and relevant bilateral tax agreements [1]