Tax Responsibilities
In the coming 2021, we wish you all having a happy, successful and healthy New Year. For companies operating in Macau, please pay attention to the following tips. Responsibility in approving annual accounts:
In each company, a general meeting shall take place ordinarily within the three months immediately following the end of each accounting period (normally equals to calendar year), in order to approve the annual accounts and to decide on the apportionment of the results. Responsibility on filing reports regarding profits tax:
– Group A taxpayers (including limited companies by shares, companies with capital no less than MOP1,000,000.00 and companies with taxable profits of more than MOP1,0000,000.00 in average within the past three years) should submit M/1 form (original and copy) to the Finance Bureau in April to June each year.
– Group B taxpayers (companies that do not belong to Group A) should submit M/1 form (original and copy) to the Finance Bureau in February to March each year. Responsibility regarding to salaries tax: Regardless of whether there are employees, the companies must fill in the M3/M4 form and submit the form to the Finance Bureau for declaration purpose by the end of February each year.
