In January
Macao's gaming tax revenue leaps 62%
(Macao).- Macao’s gaming tax revenue leaped 62.3 % in January over last year, according to the data released by the Finance Services Bureau of the Macao Special Administrative Region.
2011-02-25
Reading time 25 seg
The information showed the gaming taxes accounted for 85.9 % of Macao's total receipts in January. The total revenue of the city rose 61.3 % to US$1 billion, while its total expenditure jumped 225.3 % to US$213 million.
The huge increase in expenditure was mostly due to higher transfer payments to the government's autonomous entities and the payment of so called wealth share handouts to residents last year.
The government's overall surplus-excluding autonomous entities rose 42 % to US$793 million.
According to Macao's law, casinos should pay 35 % of their gross revenues as direct tax to the government.
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