| The rapid development of the gaming industry has brought a huge amount of income to Macau since the SAR government ended the monopoly system of gaming industry in 2002.The gaming industry has played a dominant and positive role in promoting the economy and society of Macau.The increase in the gaming tax revenue of Macau SAR government has strengthened its impact on the overall fiscal revenue.The gaming tax has subsequently become the pillar of the government revenue.COVID-19 courses global recession in 2020.Although the new coronavirus has not broken out in Macau,the entry constriction for anti-epidemic reduces the number of tourists causing a sharp drop in gaming revenue.In addition,the recession in gaming industry recession in the gaming industry leads to economic downturn and lower fiscal revenue.The proportion of gaming tax revenue in the overall fiscal revenue has dropped sharply made the structure of fiscal revenue of Macau change drastically.The COVID-19 epidemic is an important research topic today.However,the research on the impact of the COVID-19 epidemic on the fiscal revenue structure is not popular.At the same time,most of the current research on Macau focuses on the gaming and tourism industry,while few studies focus on the fiscal revenue structure.This article analyzes the fiscal revenue structure of Macau and its inherent crisis by comparing the data before and after the outbreak of the COVID-19 pandemic from the perspective of the fiscal revenue structure.According to the research,Macau’s fiscal revenue is a single structure.Over 80% of fiscal revenue comes from the gaming industry,so the ups and downs of the gaming industry will directly reflect the state of Macau’s fiscal revenue.However,the gaming industry of Macau is an export-oriented industry dependent on external sources.The development and the profit growth of gaming industry are easily affected by changes in the external economic environment.Gross gaming revenue determines the tax base of the special gaming tax,which puts Macau’s economy and finances at the same risk as the gaming industry,which is not conducive to long-term development.After the outbreak of the COVID-19 pandemic,the gaming tax revenue of the Macau SAR government decreased due to the decline in gross gaming revenue.The overall fiscal revenue decreased accordingly.There are problems in the fiscal revenue structure of Macau was found from this situation:(1)The industrial structure is single,resulting in a single tax source;(2)Irrational structure of tax revenue causes fiscal revenue instability;(3)Lacks of other effective fiscal revenue;(4)Excessive dependence of fiscal policy on the gaming industry leads to insufficient regulation.Finally,this article puts forward suggestions on realizing moderate diversification of economy and diversification of fiscal revenue,diversification of gaming industry,giving full play to the role of the Portuguese language platform,and accelerating the development of Macau’s financial industry,so as to alleviate the problem of Macau’s economy and finances being overly dependent on the gaming industry. |
