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Macao

6 April 2021

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Macau Amends Stamp Duty Law Including Abolition of Physical Stamps and Other Changes

The Macau Government has announced the entry to force of Law No 24/2020 on 31 March 2021, which includes amendments to the Stamp Duty Law. The main amendments made by Law No 24/2020 include the following:

  • The abolition of physical stamps, with existing stamp allowed to be used for one year following the law's entry into force and existing stamps allowed to be exchanged for cash in the second year;
  • The abolition of stamp duty rate for 21 types of transactions in the general schedule;
  • The collection of stamp duty levied on contracts for the use of a store in a shopping center, with the stamp duty equal to 5‰ (0.5%) of the annual contracted remuneration;
  • A reduction of the stamp duty levied on real estate lease contracts by half where lease disputes are resolved by means of an arbitration agreement;
  • The introduction of the ability to request partial refunds of the tax paid in cases where the lease ceases before the end of the term of the respective contract; and
  • An increase in fines for non-compliance with tax obligations, in order to combat and reduce infringements, especially tax fraud and evasion.

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