Electronic income

The government will not increase the revenue cap for the distribution of MOP 15,000

Residents with a two-year income above MOP 600,000 (USD 74,209) will still not be included in a MOP 15,000 support package as their financial capacity allows them to better withstand the current adverse economic environment , compared to low-income residents. income workers.

Under an initially announced support plan, local taxpayers whose personal income does not exceed MOP 480,000 in 2020 and 2021 would receive a subsidy of MOP 15,000.

The income requirement was later raised to MOP 600,000 for that two-year period, but in a special ‘video conference’ plenary session held today at the Legislative Assembly to discuss and vote on a budget amendment, several lawmakers questioned authorities about the reason for the exclusion. a large percentage of struggling local employees of the plan.

In his response, the Director of Financial Services, Iong Kong Leong, said that judicious use of public funds was necessary and that residents who did not benefit from the subsidy were still entitled to other relief measures in the event of a crisis. pandemic, such as the annual cash distribution, tax refunds and the e-consumer card.

“In order to have rational use of public funds, we will not increase the amount of MOP 600,000,” Iong said.

The Legislative Assembly (LA) today discussed a budget amendment which will see the allocation of an additional MOP 35 billion ($4.3 billion) from the Financial Reserve to support a new round of relief measures in pandemic cases and prevention work expenses.

The MOP 35 billion allocated will mainly cover the pandemic relief MOP 20 billion and almost MOP 1.3 billion to cover pandemic prevention expenses, as the pandemic continues to have a significant impact on the volume. gambling taxes collected by the authorities.