Macau government exempts concessionaires from paying profits tax for another five years

Macau Chief Executive Ho Iat Seng has announced that the city’s six gaming concessionaires will be exempt from the payment of profits tax arising from gaming operations for a period of five years, backdated to 1 January 2023.

The exemption, which mirrors an exemption in place under the previous concessions, applies to Galaxy Entertainment Group, Melco Resorts, MGM China, Sands China, SJM Resorts and Wynn Macau on profits from casino gaming or other forms of gaming operations.

The concessionaires are still required to pay gaming tax revenues to the government equal to 40% of GGR.

Macau’s Finance Bureau had stated in 2019 that, “Based on the non-duplication of taxes on the same source of revenue, the Chief Executive of Macau, in accordance with the legal regime of gaming, exempts gaming concessionaires from the imposition of additional complementary income tax on their profits derived from gaming operations.”

However, the Finance Bureau had also pointed out that concessionaire non-gaming revenues and shareholders’ dividends remain subject to profits tax.

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