No Macau tax changes until after mid-term review

Macau is carrying out a mid-term review on the gaming industry and won’t adjust gaming taxes until after the report is completed, Secretary for Economy and Finance, Leong Vai Tac said.
“The rumours of increasing the tax was just rumours and nothing has been decided,” he added.
In a note last week, CLSA analyst Aaron Fischer wrote that Macau may raise taxes when it renews licenses for concessionaires.
He said he expects all six current operators to see their licenses renewed and the possibility of one extra license perhaps being granted to a local company, with the gaming tax rising to 39 percent to 43 percent.
The government’s review will look at developing non-gaming attractions, fulfilling corporate social responsibilities and whether the concessionaires have helped the industry expand healthily. It will also look at their roles in helping Macau to become a world center of tourism.
The Government has commissioned higher education institutes to carry out the related work, which is high on the priority list for this year, he said.
Licences for the three existing concessionaires together with their three sub-concessionaires would expire in early 2020.
The government also said it was setting up an interdepartmental task force on the gaming industry, with a view to look at potential layoffs in the industry given the slump in gross gambling revenue.
The task force includes representatives from the Gaming Inspection and Coordination Bureau, the Labour Affairs Bureau and the Macau Productivity and Technology Transfer Centre.