The local government will be exempted from income tax when investing in the mainland, once a new deal under the Mainland-Macau agreement to avoid double taxation comes into effect, the Macau Government Information Bureau (GCS) said in a statement yesterday.
The Fourth Protocol to the Arrangement between the Mainland and the Macau Special Administrative Region (MSAR) on the Avoidance of Double Taxation and Prevention of Evasion of Income Tax exempts from income tax investments made by the local government in the mainland, namely via the Guangdong-Macau Cooperation and Development Fund.
The tax pact was signed by Chief Executive Fernando Chui Sai On and State Taxation Administration Commissioner Wang Jun during a ceremony at Government Headquarters in Praia Grande.
Chief Executive Fernando Chui Sai On (right) and State Taxation Administration Commissioner Wang Jun shake hands after signing the latest Macau-mainland tax pact at Government Headquarters yesterday. Photo: GCS
