财政部等3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, State Administration of Taxation, and China Securities Regulatory Commission announced tax policies for the trial phase of domestic issuance of depositary receipts (CDRs) for innovative enterprises, effective from January 1, 2026, to December 31, 2027 [1] Group 1 - From January 1, 2026, to December 31, 2027, individual investors will be exempt from personal income tax on the capital gains from the transfer of CDRs of innovative enterprises [1] - A differentiated personal income tax policy will be implemented for dividends received by individual investors holding CDRs, following the guidelines set forth in previous notices from the Ministry of Finance and State Administration of Taxation [1] - Innovative enterprises are required to withhold and pay taxes on behalf of individual investors through their domestic depositary institutions, which must also file detailed reports to the local tax authorities [1] Group 2 - Individual investors can offset taxes already paid on dividends abroad against their personal income tax liabilities, in accordance with personal income tax laws and relevant bilateral tax agreements [1]