Macau

Macau

      Macau tax haven        
              
Capital city:                Macau     
Currency:                    Macanese pataca (MOP)     
Population:                650,900   
Language:                  Chinese and Portuguese
GDP:                            USD$80.7 billion 
GDP per capita:        USD$123,982

Macau (officially the Macao Special Administrative Region of the People's Republic of China) is an autonomous region on the western side of the Pearl River estuary in East Asia. Macau is a former Portuguese colony that was returned to Chinese sovereignty on 20 December 1999. It is bordered by the city of Zhuhai in Mainland China and is 64 km from Hong Kong (across the Delta). Macau is the most densely populated region in the world with a population density of 21,185 persons per square km.

Macau is a resort city in Southern China, known for its casinos and luxury hotels. It is widely known as the gambling capital of the world, and since 2006 has had the world's most significant gaming revenue. Macau's economy is reliant on gambling, tourism, banking and other financial services.

Macau is an offshore financial centre, a tax haven, and a free port with no foreign exchange controls. Tax is imposed on the worldwide income earned by Macau-registered entities, irrespective of where their residence or headquarters are situated and regardless of the nature of the income. Tax is imposed on a progressive rate scale ranging from 3% to 9% for taxable profits below or equal to MOP 300,000 (with profits below MOP 32,000 being exempt), and 12% for taxable profits over MOP 300,000.

Similar posts you may like

  • Fiji Islands

    Capital city:                Suva      Currency:                    Fijian dollar Read more

  • Jersey

    Capital city:                Saint Helier   Currency:                    Pound sterling Read more

  • Deduct your overnight travel expenses

    Overnight travel expenses involve being away from home for at least one night for work or business purposes. Business or work travel is in Read more

  • Domicile Hedge Funds

    Eighty percent of the world’s hedge funds worth US$800 billion are domiciled in the Cayman Islands.  Hedge funds have been attracted to the Cayman Read more

"You’d be stupid not to try to cut your tax bill and those that don’t are stupid in business"

- Bono: U2