三部门：创新企业CDR个税优惠延至2027年底

Core Viewpoint - The Ministry of Finance, State Administration of Taxation, and China Securities Regulatory Commission announced the extension of tax incentives for innovative enterprises' domestic issuance of depositary receipts (CDRs) until December 31, 2027, which includes exemptions from individual income tax on capital gains from the transfer of CDRs by individual investors [1] Group 1: Tax Incentives for Individual Investors - Individual investors transferring innovative enterprise CDRs will be temporarily exempt from individual income tax on capital gains [1] - The tax incentives for innovative enterprise CDRs were first introduced in 2019 and have now been extended, excluding stamp duty [1] Group 2: Tax Incentives for Institutional Investors - Corporate investors transferring innovative enterprise CDRs will be subject to the same tax exemption policies as those for stock transfers regarding capital gains and dividend income [2] - Publicly offered securities investment funds will not be subject to corporate income tax on capital gains and dividend income from innovative enterprise CDRs [2] - Qualified Foreign Institutional Investors (QFIIs) and Renminbi Qualified Foreign Institutional Investors (RQFIIs) will also benefit from tax exemptions similar to those applicable to the underlying stocks of the CDRs [2]