Tax revenue collected by the Macau SAR Government directly from its six concessionaires fell to MOP$1.31 billion (US$162 million) in July, representing a further decline on the MOP$1.35 billion (US$167 million) collected in June and 49.6% lower than in July 2021.
According to information published by the Financial Services Bureau, July’s gaming tax compared with tax of MOP$2.60 billion (US$322 million) in July 2021, impacted by ongoing border restrictions and travel impediments between Macau and mainland China.
As previously reported by IAG, Macau’s gross gaming revenues plummeted to just MOP$398 million (US$49 million) in July, the lowest monthly revenue result at any time during the COVID-19 pandemic.
For the first seven months of 2022 combined, direct gaming taxes have reached MOP$14.0 billion (US$1.73 billion) – down from MOP$22.2 billion (US$2.75 billion) a year earlier and representing just 40.6% of the MOP$34.4 billion (US$4.26 billion) the government had budgeted for through July. It is also just 28.1% of the FY22 tax budget of MOP$49.8 billion (US$6.16 billion).
Macau’s gaming taxes include a 35% “special gaming tax” paid directly to the Macau government plus another 4% other charges, comprising a 1.6% levy which funds the Macao Foundation’s cultural, social, economic, educational, scientific, academic and philanthropic activities, and a 2.4% contribution (1.4% for SJM) to the urban construction, tourism and social security fund.
RelatedPosts
