Macau gaming tax revenue up 14pct in full year 2018

Feb 20, 2019 Newsdesk Latest News, Macau, Top of the deck  

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The Macau government collected approximately MOP106.78 billion (US$13.21 billion) in direct taxes on gaming in the city in full calendar year 2018, up by 13.6 percent when compared to the previous year, according to official data from the Financial Services Bureau.

Direct taxes from gaming accounted for almost 80 percent of the Macau government’s total revenue in 2018, which stood at around MOP134.20 billion.

The Macau government ended 2018 with a fiscal surplus of MOP53.87 billion for the full year.

The government taxes the gross gaming revenue (GGR) of the casinos in Macau at a rate of 35 percent, but other levies on gaming make the rate of tax 39 percent, in effect.

Aggregate GGR in Macau in full calendar year 2018 amounted up to MOP302.85 billion, up 14.0 percent year-on-year, according to the data released by Macau’s casino regulator, the Gaming Inspection and Coordination Bureau.

In its annual budget, the government forecast that MOP82.41 billion would be collected as direct tax from gaming in full-year 2018. In drawing up its budgets, the Macau government is cautious about revenue from gaming, tending to underestimate revenue from taxes and other levies on the business.

The Macau government expects to collect MOP91.0 billion in direct taxes on gaming this year, according to its budget for 2019, presented in late November.

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