2011 tax benefits

In compliance with the Macao Special Administrated Law No. 14/2010, 2011 fiscal year budget, the Macao Financial Services Bureau specially deals with the taxes. In the 2011 fiscal year, the tax benefits are as below:

 

Industrial Tax

Industrial Tax is exempted.

 

Rent and Land Rent

Rent and ground rent of less than MOP$100 is exempted from tax payment.

 

Property Tax

The deduction of property tax is set at MOP$3,500.

 

Complementary Tax

For companies who are entitled to pay the complementary tax in 2010, the exempt amount is set at MOP$200,000

 

Professional Tax

For the 2011 fiscal year, the professional tax deduction is to be deducted at a fixed percentage of 25%. The exempted amount is set at MOP$144,000. If a casual worker’s salary exceeds MOP$640 per day, or the employee’s monthly income exceeds MOP$16,000, the employer has to withhold their salary. The calculation method can be found in the Macao Financial Services Bureau website.

 

Stamp Duty

-       Exemption on the stamp duty of insurance policies and banking.

-       Exemption on the stamp duty of the licensing fee of advertising or promotion postings. However, it does not cover the advertising and commercial information of tobacco, or the advertisements posted on along the Grand Prix circuit. These entities must pay the stamp duty according to the law.

-       stamp duty of performances, exhibition or tickets of any form of entertainment are exempted. This also exempts the stamp duty of ticketing upon leaving.

 

Property Transfer Stamp Duty

For Macau permanent residents who purchase a property, and have filled in a form before signing any purchase document, they will be entitled to apply for an exemption of stamp duty up to $3,000,000.

 

 

Tourism Tax

According to the 1 April Decree-Law no. 16/96/M (approving the scheme of hotel and similar business) the following categories can be exempted from tourism tax:

-       Under Article no. 6 Group 1, Service provided by luxurious, first and second class restaurant.

-       Hotels belong to Groups 1, 2 and 3 under the classification of article no. 5, with reference to activities in Group 1.