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ISSUE 118 - Feb 2014
What are your expectations for the gross gaming revenue growth of Macau’s gaming industry in 2014?
Growth above 10 percent
Growth from 0 to 10 percent

Cross-border cash flow controls mooted: report

Posted: 7/5/2013 12:24:15 PM
Rating:     0% ( votes)

Financial Intelligence Office director Deborah Ng Man Seong says the government is considering a new arrangement for declaring cash when crossing the border, reports the Portuguese news agency Lusa.

Lusa quoted Ms Ng as saying the government was “analysing the feasibility of implementing a declaration or notification requirement” of certain amounts to meet recommendations by the international Financial Action Task Force on Money Laundering.

There is no schedule in place for introducing the changes.

Ms Ng said although money laundering was a crime here, there was no criminal sanction for failing to declare funds carried across the border or for lying to officials.

Beijing bans mainlanders from bringing more than RMB20,000 (MOP26,000) into Macau.

Other Macau Latest News

Think-tank says Macau economy world’s 34th-freest

But less labour and monetary freedom pare city’s economic freedom score

Macau’s 2013 tourism takings world’s fifth-largest

Receipts grew at second-fastest rate among top ten earners from tourism

Jobless rate steady in trimester ended December

Increases in labour force and employment show economy still creating jobs

Delta cooperation tops Macau wish-list, Chui says

Chief executive sketches his govt’s proposals for the next five-year plan

China’s pre-1999 investment treaties exclude Macau

Singapore court reportedly says so because Chinese embassy in Laos says so

Estate agents see little growth in factory values

Predict that weak demand this year will slow the rises in prices and rents

Enlarged Galaxy Macau, Broadway Macau open May 27

Galaxy Entertainment exec promises indulgence, style, fun and privilege

Social welfare spending set in stone, says Chui

Chief executive rejects notion of less gaming tax cutting budget provisions

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