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Sam Hou Fai: MO Will Face Fiscal Deficit if Monthly GGR Only MOP15B; ST Tax Structure Change Difficult but Necessary
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Macau Chief Executive Sam Hou Fai said on Tuesday (15th) during the Q&A session of a plenary meeting of the Legislative Assembly that Macau's fiscal structural imbalance is severe with immense pressure from rigid expenditures. In this year's budget, recurrent expenses account for around MOP115 billion, in which personnel expenses that cover salaries and allowances are the largest, making up for about MOP30.26 billion. In Sam's estimate, this year's gaming tax revenue will hit around MOP93.1 billion, accounting for about 81% of fiscal income. If monthly gaming tax revenue only reaches MOP15 billion, he is concerned that Macau will face a fiscal deficit. Changing Macau's tax structure in the short term may be quite difficult, Sam confessed. Still, it is necessary to implement it, and he hopes representatives from various industries will discuss it together. AAStocks Financial News |
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