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Macau (SAR), China - Other taxes and levies

Macau (SAR), China - Other taxes and levies

Taxation of international executives

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Social security tax

Are there social security/social insurance taxes in Macau (SAR)? If so, what are the rates for employers and employees?
 

Employer’s social security rate is MOP60 per person per month for employees who are local residents. For non-residents with working permits, the employer is required to pay a monthly recruitment levy of MOP200 per person per month.

Employee’s social security rate is MOP30 per person per month for employees who are local residents and none for foreign employees working in Macau (SAR).

Gift, wealth, estate, and/or inheritance tax

Are there inheritance taxes in Macau (SAR)?

None.

Real estate tax

Are there real estate taxes in Macau (SAR)?
 

Rental income in Macau (SAR) is subject to property tax. Under the regulations, property taxes generally are levied on two categories of real estate properties. The first applies to leased properties on which the levies are based on the actual rental income at the rate of 10 percent (the tax rate is lowered to 8 percent for 2020 according to Law.22/2019 approving the 2020 financial budget of the Macau (SAR)). The second category involves properties which have not been let and are occupied by the owners, in which case taxes are levied at 6 percent on the assessable rental value. The assessable rental value is estimated by the government and revised periodically after taking into account all relevant factors and changes in the property market.

Sales/VAT tax

Are there sales and/or value-added taxes in Macau (SAR)?

None.

Unemployment tax

Are there unemployment taxes in Macau (SAR)?

None.

Foreign Financial Assets

Is there a requirement to declare/report offshore assets (e.g. foreign financial accounts, securities) to the country/jurisdiction’s fiscal or banking authorities?
 

No such requirement for individuals

Disclaimer:

All information contained in this publication is summarized by KPMG, a Macau (SAR) partnership and a member firm affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity, based on Law No. 21/78/M introduced in September 1978 regarding Macau (SAR) Complementary Tax and the further amendments made by Law 21/2019 in December 2019, personal income tax imposed under Law No. 2/78/M in February 1978 and the further amendments made by Executive Order No. 267/2003 in December 2003, property tax under Law No. 19/78/M in August 1978 and the further amendments based on Law No. 1/2011 and Law No.1/2018, stamp duty tax imposed under Law No. 17/88/M, and Law No.4/2010 regarding social security system and further amendment made by Executive Order No. 357/2016 and Law No.6/2018.

© 2021 KPMG, a Macau partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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