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Govt to return income tax to 100,000 residents

About 100,000 residents are eligible to receive a rebate of 60 percent on their income tax they paid for 2012 from next month, totalling 390 million patacas, Financial Services Bureau (DSF) Deputy Director Stephen Iong Kong Leong said Wednesday. Iong made the announcement at a special press conference held at the bureau. According to Iong, […]

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UPDATED: 22 Dec 2023, 5:50 am

About 100,000 residents are eligible to receive a rebate of 60 percent on their income tax they paid for 2012 from next month, totalling 390 million patacas, Financial Services Bureau (DSF) Deputy Director Stephen Iong Kong Leong said Wednesday.

Iong made the announcement at a special press conference held at the bureau.

According to Iong, about 300,000 taxpayers in 2012 paid income tax that amounted to about 1.2 billion patacas.  The amount of the tax refund is about 31 percent of the total amount of income tax the government received for 2012.

Iong said that the maximum rebate was 12,000 patacas.

“First, the taxpayer must have already paid their tax,” Iong said, adding, “If a taxpayer has paid 20,000 patacas in tax, then this taxpayer is eligible to get a rebate of 12,000 patacas.”

Iong pointed out that for a taxpayer to receive a tax rebate of 12,000 patacas, the taxpayer have to have an annual salary of 570,000 patacas.

“Even if you’re earning more than 570,000 patacas a year, your tax return would only be 12,000 patacas,” Iong was quoted by The Macau Post Daily as saying.

The bureau will be using bank transfers from April 1 to return tax payments to teachers who are receiving a government allowance in their bank accounts, while civil servants will receive theirs when they get their salary.

Other taxpayers will receive their tax refund with crossed cheques mailed to them from April 14. The cheques are valid from April 14 to December 29, 2017.

Around 68 percent of the 100,000 residents eligible for the tax rebate will get theirs as crossed cheques, Iong urged them to update their mailing address with the bureau if there has been any change.

The bureau will provide information about the tax refund scheme on its website next week.(macaunews)

UPDATED: 22 Dec 2023, 5:50 am

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