Wednesday February 18,2015 : MACAU GAMBLING TAXES DOWN
Taxman feels the pain of the gambling island's reduced business in January.
The Macau taxman felt the pain of the drop in gambling business on the island during January, reporting that tax revenues declined 27.5 percent.
The Financial Services Bureau reported total tax revenue of MOP10.50 billion ($1.3 billion), around $475 million less than during the same period the year before.
Direct taxes from gaming brought in $1 billion, dropping by 29.7 percent from $1.5 billion last year.
A tax of 35 percent is applied on gross gaming revenue by the government, along with a 4 percent tax on gross in indirect taxation.
Financial observers attributed to lower tax harvest to lower gaming activity.