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Macau govt waives income tax on gaming operation profits

Posted on July 23, 2024 by 카지노사이트

Macau’s six casino concessionaires have again been exempted from paying complementary income tax on the profits of their gambling operations. The latest exemption covers the period January 1, 2023 to December 31, 2027, according to a Macau government dispatch published on Monday.

The dispatch was signed by Macau’s Chief Executive, Ho Iat Seng, on January 29.

The starting date for exemption coincides with the January 1, 2023 beginning of the operators’ respective new 10-year concessions.

Under the latest concession system, the operators all face an effective tax rate of 40 percent on casino gross gaming revenue (GGR).

Each of the six concessionaires also has to pay a fixed annual premium of MOP30 million (US$3.72 million) to the Macau government.

On top of that, each casino concessionaire will pay a variable annual premium, to be set according to their gaming inventory. That includes: MOP300,000 per VIP gaming table; MOP150,000 per mass-market gaming table; and MOP1,000 per gaming machine, including slot machines.

The variable premium per operator each year will amount to not less than the equivalent payable for 500 gaming tables and 1,000 gaming machines.

A special premium will be payable if the annual GGR generated from each gaming table and gaming machine is respectively below MOP7 million (approximately HK$6.8 million) and MOP300,000.

BY: 바카라사이트

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