Lei Wai Nong, Macau’s Secretary for Economy and Finance, provided some guidance when the subject came up in Friday’s meeting. He asserted that the amendment clarifies the “attribution” of the tax. However, ambiguity remains.<\/p>\n
The head of the city’s Financial Services Bureau, Iong Kong Leong, added that the tax regime applies to items such as purchases of minibar items in hotels, the sale of ferry and air tickets, and others. However, it also applies to “newspapers and publications, which may involve hotels,” according to Inside Asian Gaming<\/em>.<\/p><\/blockquote>\nAny link between newspapers and tourism is, at best, tenuous. Casinos already pay a gaming tax of 35%, with additional charges that raise the effective tax rate to around 40%. They already pay taxes on certain tourism-linked activities. But they may have to prepare to pay even more.<\/p>\n
Tourism to Drive Macau’s Future<\/h2>\n
Macau made it clear a few years ago that as important as casinos are for the city’s autonomy, international tourism of different categories is its future. Plans began in 2018 to diversify the city’s image, and the new gambling laws include requirements that casino operators invest more to support Macau’s tourist infrastructure.<\/p>\n
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In 2018, Macau’s tourism tax was worth $116 million. The following year, this increased to $119 million, a trend that had been in place for a couple of years. However, COVID-19 decimated the city, and tourism revenue only reached $20 million in 2020. Last year, it was down to $16 million.<\/p>\n<\/div>\n
Chief Executive Ho Iat Seng wanted, with the assistance of gaming operators, 12 large-scale sports events last year. This would be an effort to reinvigorate the tourism industry and continue to show Macau’s desire to diversify away from being primarily a gambling destination.<\/p>\n
The plans fell through because of COVID-19 but exemplify the city’s goal of greater diversification. Macau continues to seek out ways to improve its financial stability. The new tax scheme may help, especially if the city reclassifies what falls under the tourism umbrella.<\/p>\n","protected":false},"excerpt":{"rendered":"
Macau is closing in on one of the largest gambling law reforms in its history. Casino operators are entering an unknown era, and changes to tourism tax laws could cause additional concerns. Macau lawmakers will soon reveal the final outline of its updated gambling laws. As more is revealed about the changes, casino operators in […]<\/p>\n","protected":false},"author":64,"featured_media":210579,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13],"tags":[],"acf":[],"yoast_head":"\n
Macau Presents New Tourism Tax Scheme, Raises Questions - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n