Profit tax change will exempt 42,908 enterprises

2015/6/15

From:Macau Business

Lifting the amount of annual profit that is taxable to anything over MOP600,000 (about US$75,000) will reduce the number of enterprises liable to profit tax to 1,911 from 44,819, the Financial Services Bureau says.

Chief Executive Fernando Chui Sai On said in March that his government would raise the amount of annual profit exempt from tax to MOP600,000 from MOP320,000 to help small and medium enterprises.

A written statement issued by the Financial Services Bureau says the change will reduce government revenue from profit tax by 6.66 per cent.

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