Macau Yearbook 2013 - Macao Yearbook

Macao Yearbook 20131. Businesses such as guest houses, hotels and restaurants are completely exempt from tourismtax; and2. Motor vehicles, tour buses, mass transit vehicles and trucks used by Government departmentsin Macao are all exempt from motor vehicle tax.Financial IncentivesThe Interest Subsidy Scheme on Bank Loans to Enterprises (By-law No. 16/2009), which on 30May 2011 was amended by By-law No. 10/2011, supports some struggling local enterprises sothey can improve business conditions and thereby adapt to changes in the industrial structure, witha series of supportive Government financial measures that include increased resource allocation,expanding the scope of support to cover more industries, granting entitlement to rebates to moreinvestment projects, simplified application requirements, and relieving the financial burdens ofenterprises benefiting from the rebates. The scheme is enacted to provide loan interest rebates toencourage local enterprises investing in Macao to increase investment within their business areas, soas to foster diversification of local economic activities, promote environmental protection, supporttechnological innovation and transformation, increase their competitiveness, and realise businessmodernisation. Enterprises that benefit from the scheme enjoy a four percent interest subsidy peryear. The maximum period of subsidy is four years, counting from the first day of loan repayments,and the subsidy is calculated according to the outstanding capital in each instalment.Coverage of Interest Subsidy Scheme in 2012 (as at end of Q4)Type of industry Percentage (%) (1) Approved subsidyamount (MOP) (2)Approvedcases (2)Wholesale 20.52% 65,760,844 17Construction and public works 20.51% 65,745,790 14Public services, social welfareand private servicesReal estate activities andcorporate services17.30% 55,449,419 1916.05% 51,454,465 12Retail 7.02% 22,511,270 6Transport and warehousing 4.93% 15,788,545 7Chinese restaurants, restaurantsand hotelsFood, beverage and tobaccoproducts4.92% 15,759,776 92.84% 9,110,000 2Paper, printing and publishing 2.45% 7,864,270 4150