2016 taxbenefits

In compliance with the Macao Special Administrated Law 15/2015 fiscal year budget, the Macao Financial Services Bureau specially deals with the taxes. In the 2016 fiscal year, the tax benefits are as below:

 

Industrial Tax

Industrial Tax is exempted.

 

Rent and Land Rent

Rent and ground rent of less than MOP$100 is exempted from tax payment.

 

Property Tax

Standard deduction of MOP$3,500.00 on property tax. If the tax subject is of two or more natural persons (individuals), its property tax can be similarly deducted the aforementioned amount if and only if one of them is permanent resident of Macao SAR. If the tax subject is legal person, individual commercial entrepreneur or non-resident of Macao SAR, it is not eligible for such deduction.

 

Complementary Tax

Exemption allowance for profits tax assessment in 2015 is MOP$600,000.00

 

Professional Tax

For the 2016 fiscal year, the professional tax deduction is to be deducted at a fixed percentage of 30%. The exempted amount is set at MOP$144,000. If a casual worker’s salary exceeds MOP$640 per day, or the employee’s monthly income exceeds MOP$16,000, the employer has to withhold their salary. The calculation method can be found in the Macao Financial Services Bureau website.

60% of the Salaries Tax paid for the assessment year 2014 will be refunded to Salaries Taxpayers who hold a Macao Resident Identity Card on 31 December 2014, up to a ceiling of MOP$12,000.00.

 

Stamp Duty

-       Exemption on the stamp duty of insurance policies and banking.

-       Exemption on the stamp duty of the licensing fee of advertising or promotion postings. However, it does not cover the advertising and commercial information of tobacco, or the advertisements posted on along the Grand Prix circuit. These entities must pay the stamp duty according to the law.

-       Stamp duties of performances, exhibition or tickets of any form of entertainment are exempted. This also exempts the stamp duty of ticketing upon leaving.

 

Property Transfer Stamp Duty

Waiver of stamp duty on the first MOP$3,000,000.00 of fixed asset value which is only applicable for Macao permanent residents, an application form “Confirmation of exemption from stamp duty” should be submitted prior to signing any sale and purchase contract; however, this is not applicable to the taxpayers who have enjoyed such an exemption in previous years.
When the immovable property is acquired by two or more taxpayers, of which only the eligible taxpayer is entitled to enjoy the tax exemption proportionally; moreover, as pursuant to the provision of the same article, if the acquirer of the immovable property is a couple, and either of the two is not the proprietor of the immovable property as indicated, the acquirer is entitled to enjoy the relevant tax exemption.

 

Tourism Tax

Exemption of tourism tax on the services provided by luxury, class 1 and class 2 restaurants in group one classification indicated in article 6, and also on proprietary business activities provided by similar business in group one classification of group 1, 2 and 3 hotels indicated in article 5 of the Decree-Law no. 16/96/M