On May 9, Shenzhen Qianhai Administration Bureau released on its official website the service guidelines for the definition of Qianhai enterprise income tax preferential industries (hereinafter referred to as the guidelines). It is reported that the guidelines will be implemented from May 20, 2022 and will be valid for five years. According to the requirements of the notice of the Ministry of Finance and the State Administration of Taxation on the continuation of the preferential policies for enterprise income tax in Shenzhen Qianhai Shenzhen Hong Kong modern service industry cooperation zone, the tax authorities shall request the Qianhai administration to define whether the main business belongs to the enterprises that are difficult to be defined in the preferential catalogue for enterprise income tax in Qianhai Shenzhen Hong Kong modern service industry cooperation zone (version 2021), and attach the list of enterprises and relevant information. Qianhai Administration Bureau shall, within 10 working days from the date of receiving the definition request from the tax authority, notify the enterprise to provide the materials required for the definition as required, including the relevant materials listed in the information collection form of Qianhai enterprise income tax preferential industry definition service and the data list corresponding to the preferential catalogue in the key points and data list of Qianhai enterprise income tax preferential industry definition. If the enterprise fails to provide materials as required, resulting in the inability to accurately define whether its main business belongs to the preferential catalogue, the enterprise shall bear the adverse consequences by itself. Through the list of key points and materials for defining preferential industries of Qianhai enterprise income tax, the guidelines further refine the relevant items of the preferential catalogue, and clarify the industry description, key points for defining and material list, which provides an important reference for enterprises to judge whether their main business meets the preferential catalogue and enjoy preferential policies. (Xinhua News Agency)