Macau Tax Concessions To Benefit Small Businesses And Gaming Firms Amid Coronavirus Crisis

Macau Tax Concessions To Benefit Small Businesses And Gaming Firms Amid Coronavirus Crisis

Macau – Following the news that officials in Macau are to introduce concessions on tax amid the coronavirus crisis, Galaxy Entertainment Group’s vice chairman has spoke about the benefits for small and medium businesses given the difficult time in Macau and other Asian nations.

However, Francis Lui Yiu Tung of Galaxy Entertainment Group confirmed in a question-and-answer session in a Thursday media briefing that the firm has not yet asked officials for tax concessions.

Francis Lui Yiu Tung said:

“At present, we have not asked the Macau government on any concessions but we believe the government is already introducing a series of measures…for the community of Macau. And this is timely as it will benefit small and medium enterprises and also the different sectors in the society to sustain and protect their ongoing livelihood.”

Mr Lui expanded on the importance of assistance during one of the most difficult times for gaming establishments in modern history. He added:

“For the government, I think if they can be sympathetic to the gaming industry – to the contribution that we have made for the community and the society – that will be good. St present, no requests had been made so far to the government.”

As the outbreak of coronavirus continues to have a huge impact on global economies, Francis Lui Yiu Tung elaborated on the uncertainty his and other businesses face:

“It is very difficult for us to foresee the impact on our profits. It is difficult to give it a size at this point in time but it will not be small. In the mainland, things are stabilising as far as the virus situation goes, and if that is the case, I’m confident that in a short period of time – when individual travellers and package tours can come to Macau – we will be able to resume the pace of growth.”

Galaxy Entertainment Group owns and operates hotels and casinos in Macau through its subsidiary, Galaxy Casino S.A. Its properties include The StarWorld Macau, President Casino, The Galaxy Macau among others.

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