Macau: Overview
Macau is one of the two Special Administrative Regions of China, Hong Kong being the other. Although Macau is a part of China, it does not practice socialism because of the “one country, two systems” policy, wherein Macau can enjoy a high degree of autonomy in all matters except foreign and defense affairs.
Macau’s economy depends on tourism. Macau has capitalised on its long history as a gambling centre.
Though all land in Macau belongs to the government and tenure is on a leasehold basis, in reality long lease can be freely bought and foreigners can own property.
Macau’s economy depends on tourism. Macau has capitalised on its long history as a gambling centre.
Though all land in Macau belongs to the government and tenure is on a leasehold basis, in reality long lease can be freely bought and foreigners can own property.
TAXES AND COSTS
Last Updated: Dec 18, 2008
Rental Income: Rental income is taxed at a flat rate of 16%.
Capital Gains: Capital gains are subject to complementary tax which is levied at progressive rates, from 9% to 12%.
Inheritance: Inheritance and gift taxes in Macau have been abolished.
Residents: Resident are taxed only on their income from sources in Macau.
Capital Gains: Capital gains are subject to complementary tax which is levied at progressive rates, from 9% to 12%.
Inheritance: Inheritance and gift taxes in Macau have been abolished.
Residents: Resident are taxed only on their income from sources in Macau.
