Macau’s Financial Services Bureau <\/a><\/em><\/strong>has revealed results for July, reporting a fall in tax revenue of 46.8 per cent compared to June. The government collected nearly MOP402.4 million (US$50.4 million) from the city’s gaming industry in July. <\/p>\n\n\n\nMacau casino GGR\u00a0declined by 94.5 percent\u00a0in July compared to the same period last year, to MOP1.34 billion (US$167 million). That figure represented an increase from the MOP716 million (US$89.6 million) recorded in June.<\/p>\n\n\n\n
Aggregate Macau casino GGR for the first seven months of 2020 stood at approximately MOP35.06 billion, a decrease of 79.8 percent year-on-year.<\/p>\n\n\n\n
The government taxes the GGR of Macau casinos at a rate of 35 percent, but other levies on casino gaming gross effectively raise the tax rate to 39 per cent.<\/p>\n\n\n\n
Other taxes on the Macau gambling sector include levies on the income of Chinese traditional lotteries, horse racing, instant lotteries and tax on commissions earned by operators of gambling junkets.<\/p>\n\n\n\n
The latest official data indicates that revenue from gaming collected so far in 2020 accounted for about 77.8 percent of the MOP28.53 billion (US$3.5 billion) tax revenue the government collected from all sources. <\/p>\n\n\n\n
Despite the decline, the government recorded a surplus of MOP22.64 billion (US$2.83 billion) up to July 31 due to\u00a0an increase in \u201cother capital revenue\u201d in the last two months.<\/p>\n\n\n\n
The Macau government is expecting a deficit of MOP38.95 billion (US$4.87 billion) for 2020 due to measures taken to support the economy during the pandemic.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau’s Financial Services Bureau has revealed the tax figures for July.<\/p>\n","protected":false},"author":2,"featured_media":8981,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Macau's Financial Services Bureau reported a 46.8% month-on-month decline in July gaming tax revenue, totaling MOP402.4 million, reflecting a 94.5% year-on-year GGR decrease to MOP1.34 billion. Year-to-date GGR for the first seven months of 2020 stands at MOP35.06 billion, down 79.8% year-on-year. Despite a current MOP22.64 billion surplus, the government anticipates a MOP38.95 billion deficit for 2020 due to pandemic-related economic support measures.","focusai_entities":"Macau\u2019s Financial Services Bureau, Macau government","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.75), operator_casino (0.98), investor_analyst (0.97), supplier_vendor (0.8), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Impact of Government Measures?","query":"What specific government support measures contributed to the anticipated MOP38.95 billion deficit, and how will these impact future gaming sector fiscal policies?"},{"label":"Macau GGR Recovery Timeline?","query":"Given the 94.5% year-on-year GGR decline, what are the projected timelines for a material recovery in Macau's gaming sector, and what factors are critical for this rebound?"}],"footnotes":""},"categories":[160,161,16338,163,158],"tags":[257],"class_list":["post-8976","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-asia-pacific","category-daily-news","category-east-asia-news","category-finance-news","category-slider-home","tag-macau"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8976"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8976\/revisions"}],"predecessor-version":[{"id":8988,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8976\/revisions\/8988"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8981"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}