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MACAU GAMBLING TAXES DOWN
18th February, 2015 at 01:45:43
Taxman feels the pain of the gambling island's reduced business in January.
The Macau taxman felt the pain of the drop in gambling business on the island during January, reporting that tax revenues declined 27.5 percent.
The Financial Services Bureau reported total tax revenue of MOP10.50 billion ($1.3 billion), around $475 million less than during the same period the year before.
Direct taxes from gaming brought in $1 billion, dropping by 29.7% from $1.5 billion last year.
A tax of 35% is applied on gross gaming revenue by the government, along with a 4% tax on gross in indirect taxation.
Financial observers attributed to lower tax harvest to lower gaming activity.
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