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Macau Periodical Index (澳門期刊論文索引)
- Author
- Noronha, Carlos; Lam, Tiffany; Chan, Hio Wan
- Title
- Tax reform in Macau: Current situations and future projections
- Journal Name
- Euro Asia Journal of Management
- Pub. Info
- Jan. 1999, No.17, pp. 93-110
- Abstract
- Paragraph Headings: 1. Characteristics of an ideal tax system 1.1. Raise the right amount of revenue to finance the fiscal budget (The tax revenue should be sufficient to finance public expenditure) 1.2. Distribute the tax burden fairly among the citizens (Equitable distribution of tax burden) 1.3. Promote economic growth and stability (use low tax rates to draw in foreign capital) 1.4. Be readily accessible to all strata the population 2. Tax reform characteristics in Macau 3. The present tax system in Macau 3.1. Direct taxes 3.2. Industrial tax 3.3. Professional tax 3.4. Urban property tax 3.5. Complementary tax 3.6. Gift and inheritance tax 3.7. Property transfer tax 3.8. Indirect taxes 4. Relating Macau's tax system to the ideal tax system 4.1. Sufficiency to finance the fiscal budget 4.2. Equitable distribution of tax burden 4.3. Tax collection according to real income of taxpayers 4.4. Accessibility by the population 5. Some suggesstions for tax reform in the future 5.1. Make clear the identification of income subject to complementary tax 5.2. Review the depreciation rates granted to group A taxpayers 5.3. Allow deduction for training expenses in calculating professional tax 5.4. Widen the tax bands 5.5. Reduce the rate of property transfer tax imposed on the purchase of property located in the Macau municipality 5.6. Remove unreasonable restrictions on leased properties in relation to urban property tax 5.7. Build a broad tax base Tables: 1. Principal component of public revenues 2. Receipts from concessions 3. Components of direct taxes 4. Components of indirect taxes and others 5. Comparison of the present and the proposed depreciation rates per annum 6. Tax evasion cases