2010 Tax Relief and Exemptions

To encourage homeownership, the Government would introduce a free stamp duty subsidy plan, which would only benefit permanent residents who currently without homes and buy flats of up to three million patacas. Moreover, the Government would propose cutting property transfer stamp tax from three per cent to one per cent. The Government would extend some other tax cuts and exemptions as mentioned in the previous Policy Address, which would cost 1.1 billion patacas. These exemptions include 25% discount on employment salary tax, personal allowance increase from 95,000 to 120,000, full exemption of business registration tax, license tax, public market rental, life and nor-life insurance stamp, adverting tax (excluding tobacco), tourist tax of restaurant, the first 3,500 or property tax, profit tax exemption increased from 32,000 to 200,000.