GGRAsia – Macau govt gaming tax revenue up 11 pct yr-on-yr in Jan-Apr

Macau govt gaming tax revenue up 11 pct yr-on-yr in Jan-Apr

May 24, 2017 Newsdesk Latest News, Macau, Top of the deck

The Macau government’s take from direct tax on gaming in the first four months of 2017 grew by 11.5 percent year-on-year to MOP29.92 billion (US$3.73 billion), according to data released by the city’s Financial Services Bureau.

The total revenue of the Macau government during the period was MOP35.90 billion, up by 10.6 percent compared to the same period last year. Taxes on gaming accounted for 83.3 percent of the total revenue in the period.

In the four months to April 30, the government surplus – the amount by which revenue exceeded spending – increased by 28.8 percent year-on-year, to MOP19.08 billion.

Macau’s direct tax on gambling at 35 percent of the gross – plus other contributions – bring the effective tax rate on casino wagering in the city up to 39 percent. The city’s authorities also charge premiums on the gaming tables and gaming machines used by the casino operators.

The city is currently forecasting that – in terms of the government’s authorised budget for 2017 – direct tax from gaming will contribute MOP71.86 billion this year.