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Government revenue surges in the first five months of the year

Gaming tax represents almost 80 percent of the current revenue generated for the government between January and May 2023.

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Gaming tax represents almost 80 percent of the current revenue generated for the government between January and May 2023.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 21 Dec 2023, 11:31 pm

Some 26.2 billion patacas in current government revenue were generated between January and May of this year, according to figures from the Financial Services Bureau cited in local media.

The sum represents a 56 percent year-on-year rise.

Almost all of the increase came from gaming taxes, which reached 20.7 billion patacas during the five-month period and represent almost 80 percent of revenue collected. The city saw a decline of 199 million patacas in non-gaming related tax, however.

[See more: This is how much gross gaming revenue was generated in May]

Meanwhile, total expenditure dropped to 28.3 billion from 37.7 billion patacas in the first five months of 2022, mainly due to 9.7 billion less spent on transfers, subsidies, and Covid relief measures.

Macao’s government collected 15.1 billion patacas in gaming taxes in the first four months of 2023, or more than 75 percent of its 20.1 billion revenue for the same period.

According to estimates, nearly 60 billion patacas in gaming taxes will be collected in 2023. 

 

UPDATED: 21 Dec 2023, 11:31 pm

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