The local government logged 3.962 billion patacas (US$495 million) in total revenue last month, up 37 percent year-on-year, the government said.
The latest statistics released by the government showed that a major share of the total revenue for January this year came from direct gaming taxes, which saw an increase of 30.9 percent year-on-year to 3.09 billion patacas (US$386 million).
Because of the territory’s booming gaming industry, which has seen the opening of its 28th casino by the end of last year, Macau’s gaming taxes grew by 48 percent over the previous year to 29.3 billion patacas in 2007, leading to an overall surplus of 21.8 billion patacas in public finance, according to official statistics.
In its latest research report released Friday, the Bank of China Macau Branch forecast that due to the dynamic development of gaming and tourism industries and ballooning fixed-asset investment in the city, Macau’s GDP will keep a growth rate of 13 percent this year, which is lower than the 27 percent rate of the previous year.
Source :: Macau Government Agency
Related Posts
- Macau's Gambling Problem
As we mentioned before, there is too much of a good thing in Macau! A small population of 508,000 with... - Real estate news on Macau
Home rents in Macau could rise by as much as 20 per cent during the year because of increased demand... - Macau’s casino taxes see year-on-year rise in first 5 months
June 16, 2006 | Xinhua News |The government of the Macau Special Administrative Region has collected 7.7 billion patacas (US$963...
- Tennis Tournament Preview: US Open, Day 9
The No. 3 seed, who is Rafael Nadal, is going to be partaking in one of the most anticipated matches to date so far this... - $9 Billion Of Your Tax Dollars Is Spent Dealing With Marijuana Laws Each Year.
I am the kind of person that understands that the government spends my tax dollars on a lot of things that I do not agree... - Could 'Avatar' hit $1 billion?
20th Century Fox's $430-million bet on James Cameron is off to a rip-roaring start and set up for a huge holiday haul. "Avatar" sold a...
