Casinos in Macao pay over 10 billion patacas in tax in 2003

Casinos in Macao paid more than 10 billion patacas (some 1.25 billion US dollars) in tax in the year of 2003, up 33 percent over the number in 2002, said an official from the Finance Services Bureau (FSB) of the Macao Special Administrative Region (SAR) on Tuesday.

Statistics shows that the Macao SAR's government revenue in 2003 is around 14.3 billion patacas (1.79 billion US dollars), while the total expenditure is 11.6 billion patacas (1.45 billion US dollars), with a record surplus since 1999 at 2.66 billion patacas (0.33 billion US dollars).

It was reported that tax from casinos in Macao in 2002 was 7.64billion patacas (0.95 billion US dollars).

According to the latest statistics, the government revenue from the casino industry in January of 2004 is at 0.97 billion patacas (0.12 billion US dollars), marking a 12.8-percent-growth as compared to the same month of 2003. Analysts said the tax from casinos in 2004 is expected to exceed 11 billion patacas (1.38 billion US dollars).

Source:Xinhua



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