Macau gaming taxes collection plummets
In the last nine months, Macau collected about US$2.93 billion on direct taxes of gambling activities.
Macau.- In the first nine months of 2020 the Macau government collected MOP23.41bn (US$2.93bn) indirect taxes on gambling. That’s a drop of 72.7 per cent, or MOP60bn (US$7.51bn), year-on-year.
According to official statistics from the Financial Services Bureau of Macau, the SAR’s total tax revenue for the period amounted to MOP78.18bn (US$9.79bn). About MOP40bn (US$5bn) of that was allocated from its fiscal reserve to cover the administration’s expenses, MNA reported.
In September, gambling taxes reached MOP604.2m (US$76.8m), down 1.5 per cent from August. In the revised budget for 2020, the government had forecast an average monthly collection of at least MOP4.16 billion.
Casino gross gaming revenue (GGR) for the first nine months of 2020 was approximately MOP38.61 billion (US$4.83 billion), a contraction of 82.5 per cent year-on-year. Even during Golden Week, GGR was down by 75 per cent compared to the same period in 2019.
