GGRAsia – Macau’s Jan-Nov gaming tax take up nearly 18 pct

Macau’s Jan-Nov gaming tax take up nearly 18 pct

Jan 02, 2018 Newsdesk Latest News, Macau, Top of the deck

The Macau government collected MOP85.75 billion (US$10.65 billion) in fiscal revenues from direct taxes on gaming between January 1 and November 30, up by 17.9 percent when compared to the equivalent period a year earlier, according to the provisional data from the city’s Financial Services Bureau.

Direct taxes from gaming accounted for nearly 80 percent of the Macau government’s total revenue in the first 11 months of 2017, which stood at MOP107.49 billion.

Aggregate gross gaming revenue (GGR) market wide in Macau in the first 11 months of 2017 was MOP243.04 billion, up by 19.5 percent year-on-year, according to the data from the city’s casino regulator, the Gaming Inspection and Coordination Bureau.

Macau charges an effective tax rate of 39 percent on casino GGR – 35 percent in direct government tax, and the remainder in a number of levies to pay for a range of community good causes.

In its annual budget, the government forecast that it would collect MOP71.86 billion in direct taxes from gaming in 2017. As of the calendar year to November 30, the execution rate of this item stood at 119.3 percent, according to the latest data from the finance bureau.

The Macau government has a track record of taking a conservative approach when estimating gaming-related tax revenue in its yearly budgets.