Posted 2/21/11 : China's gambling island delivered 62.3 percent more tax revenue in January 2011
According to data released by the Finance Services Bureau of the Macau Special Administrative Region, the gambling island off the coast of China generated a 62.3 percent increase in tax revenues in January 2011 over the comparative period in 2010.
Gaming taxes accounted for 85.9 percent of Macau's total receipts in January; the total revenue of the city rose 61.3 percent to 8.06 billion patacas ($1 billion), while its total expenditure jumped 225.3 percent to 1.71 billion patacas ($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, according to a report in the newspaper China Daily.
Land casinos licensed in Macau pay 35 percent of their gross revenues as direct tax to the government.