Employment and Tax News – MACAU 2016
Law 15/2015 became effective on 1st January 2016 - the
official budget law sets annual exemptions, deductions and tax withholding
minimum thresholds for 2016.
Regarding professional tax the following applies in Macau
for 2016:
1. Tax rates (professional tax rates) are progressive up to
12% with the top tax rates applying to an annual income over MOP424,000.
Professional tax rates apply to residents and to non-residents.
2. The exemption threshold for this year is maintained at
MOP144,000 p.a and a fixed deduction of 30% from the professional annual
income.
3. Tax withholding is required for the employer in respect
of all employees whose salary is of MOP 16,000.00 and higher. The amounts
deducted are declared and payable to the Macau Financial Services Bureau on a
quarterly basis, within 15 days from the end of each quarter.
Labour Credit Guarantee Fund – Administrative Regulation n.º
24/2015
– Published on 28 December, and effective since 1 January,
2016, it regulates the organization, administration and operation of the Labour
Credit Guarantee Fund (FGCL), that will process payment to workers of credits
claimed under Law n.º 10/2015 (Labour Credit Guarantee Law) which are due and
not otherwise payable.
Value of manifestly low credit – Administrative Regulation
n.º 25/2015
– Effective since 1 January, 2016, it defines as manifestly
low credit the amount of MOP 1,000 (one thousand patacas), below which the FGCL
is not required to take special recovery measures under the Labour Credit
Guarantee Law.
Appointment of members of the Administrative Council of the
Labour Credit Guarantee Fund (FGCL) – Dispatch of the Executive Chief n.º
535/2015
– Appoints the members of the Administrative Council of the
FGCL, for a mandate of 2 years, since 1 January 2016:
1) President Wong Chi Hong, director of the Labour Affairs
Bureau;
2) Member Kuok Iat Hoi, representative of the Finance
Services Bureau, and Hau Koc In as substitute;
3) Member Chio Pou Chu, and Wong Hong as substitute.
For more information please contact:
Rita Martins
Partner
[email protected] +853 8590 0708
Link to article