The Government denied claims by Stanley Ho who told local press yesterday 28th January) that it is considering a ‘rebate’ to certain amount of gaming tax to casino concessionaires.
Jornal Va Kio quoted a source from the Government as saying that it so far has no plans to lower gaming tax, and it felt ’strange’ by Ho’s ‘rebate’ remarks.
The source pointed out that it is the Legislative Assembly which has the power to decide on taxation, and there is no rebate on gaming taxes during the 2008 budget bill, and hence such ‘rebate’ to casino concessionaires is simply impossible.
Meanwhile, the existing gaming law has to be amended before any gaming tax rate is to be readjusted. Such amendment in legislation has to be approved by the Legislative Assembly.
The Government so far also has no plans to amend the gaming legislations, the source said.
Stanley Ho told local press in a delivery ceremony of the ICBC to Seng Heng Bank that he ‘heard of’ the Government considering rebating certain amount of gaming tax.
There has been demands from a local casino concessionaire to lower gaming tax in order to enhance competitiveness in the market.
Current gaming tax in Macau stands at 35% of the gross income, plus a maximum of 5% of contribution to support Macau’s construction, social security and the Macao Foundation.
Source: BlogMacau.info
