Macao Nets $1.8 Billion from Gaming Tax

MACAO – As reported by the Money Plans: "China's Macao Special Administrative Region government reaped $1.8 billion from taxing the gaming industry in 2004.

"According to figures released by the Macao Financial Services Bureau Sunday, the gaming industry earned 36.8 billion patacas (US$4.6 billion) in gross revenue last year, contributing 14.7 billion patacas (US$1.8 billion) to the government's tax coffer.

"As the only place in China where gambling is legal, the SAR has imposed a 35 per cent of tax on the gaming industry in addition to another few percentage points of the industry's revenue taxed in mandatory donations to the Macao Foundation.

"The sector contributes nearly 70 per cent of the SAR government's tax income…"

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