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In brief
The Macau Legislative Assembly passed the Law 4/2009 ("the Law") on 15 April 2009 to revise the stamp duty rate for transfer of immovable properties from a flat rate of 3% to progressive rates ranged from 1% to 3%. The Law was published in the Macau Gazette on 27 April 2009 and the revised stamp duty rates would be retroactively effective from 1 January 2009.
Before the enactment of the Law, a stamp duty at 3.15% (3% plus 0.15% surcharge tax) was levied on the "taxable value" of an immovable properties located in Macau. In general, the taxable value is the higher of the value stated in the related documents or instruments which would transfer the legal title of an immovable property and the value assessed by the Property Valuation Committee.
Under the new Law, the stamp duty would be levied on transfer of an immovable property according to the following scale:
| Taxable value |
Progressive stamp duty rate |
| First MOP 2,000,000 |
1% |
| Next MOP 2,000,000 |
2% |
| Thereafter |
3% |
The surcharge tax based on 5% of the stamp duty liability would be imposed.
If stamp duty, based on the 3% flat stamp duty rate, was paid before the enactment of the Law for the legal title of an immovable property transferred on or after 1 January 2009, Macau Finance Bureau would refund the overpayment of stamp duty paid.
The information contained in this publication is of a general nature only. It is not meant to be comprehensive and does not constitute legal or tax advice. PricewaterhouseCoopers (Macau) Limited ("PwC") has no obligation to update the information as law and practice change. The application and impact of laws can vary widely based on the specific facts involved. Before taking any action, please ensure that you obtain advice specific to your circumstances from your usual PwC service team or your other advisors.
The materials contained in this publication were assembled in April 2009 and were based on the law enforceable and information available at that time. |
