Gaming Taxes Exceeded NT$45.7 Billion from January to September

November 18, 2023 | Tax

The annual gambling tax target has been reached by 90%

MACAU, SAR (October 17, 2023) — According to the central accounts released by the Finance Bureau, the SAR government’s public fiscal regular revenue from January to September was 57.47 billion patacas (MOP, the same below), an increase of 1.12 times year-on-year. Among the regular revenue, 45.77 billion yuan came from gaming tax, which doubled year-on-year, with an implementation rate of 90%. Gambling tax revenue accounts for about 79% of the government’s recurring revenue. Gambling tax revenue in September alone was approximately 6.66 billion yuan, an increase of approximately 3% from the previous month (6.44 billion yuan). Total income including capital income was NT$67.87 billion, a year-on-year decrease of 20%. The main reason was that other capital income decreased by 82% to 10.35 billion yuan during the period.

Expenditure. From January to September this year, the total expenditure of the SAR government was NT$62.43 billion, a decrease of NT$7.89 billion year-on-year. As of September, the central account balance was NT$5.43 billion, a decrease of 63% year-on-year.

The Macau SAR government predicts that this year’s gross gaming revenue (commonly known as gambling revenue) will be 130 billion yuan, and this year’s gaming tax budget is expected to be 50.85 billion yuan. Currently, Macau’s gaming revenue in the first nine months is NT$128.9 billion, reaching 99.1% of the full-year gambling revenue target. Gaming tax revenue in the first nine months is NT$45.77 billion, and the budget implementation rate is 90%.

According to the newly revised Gaming Law, the current gaming tax rate in Macau is 40% of gross gaming revenue. However, due to the expansion of foreign customer markets, the chief executive can partially reduce the 5% gross revenue allocation.

SOURCE: exmoo.

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