Tax revenue collected by the Macau SAR Government directly from its six concessionaires plummeted to just MOP$244.4 million (US$30.2 million) in August, down 81.4% from the MOP$1.31 billion (US$162 million) in taxes in July and 92.5% lower than the MOP$3.27 billion (US$404 million) collected in August 2021.
The massive decline is in line with gross gaming revenues published by the Gaming Inspection and Coordination Bureau (DICJ) for the month of July, which saw Macau-wide GGR fall to MOP$398 million (US$49 million) – the lowest monthly GGR tally since liberalization.
For the first eight months of 2022 combined, direct gaming taxes have reached MOP$14.2 billion (US$1.76 billion) – down from MOP$25.7 billion (US$3.18 billion) a year earlier and representing just 41.3% of the MOP$34.4 billion (US$4.26 billion) the government had budgeted for through August. It is also just 28.5% of the FY22 tax budget of MOP$49.8 billion (US$6.16 billion), according to information from the Financial Services Bureau.
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
