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ISSUE 118 - Feb 2014
The Macau property market is changing. Vote. What is your opinion on likely price fluctuations for the second half of this year?
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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

Studio City opening date to be announced next week

Announcement will accompany release of Melco Crown’s Q2 financial results

Broker raises forecast of July gaming revenue drop

Sterne Agee CRT now predicts Macau’s casinos will take in about MOP18.4 bln

Hengqin to be less choosy about Macau investment

Authorities to cut to 90 the number of fields closed to Macau investors

Govt to present vehicle tax law amendments in Q3

Official says bill would remove exemption of tourist vehicles from tax

Chief Executive says welfare measures sacrosanct

Fernando Chui seeks to reassure public about any cuts in govt spending

Jobless rate steady in trimester ended June

Gaming and construction have fewer employees, but hotel workforce grows

Economy secretary floats govt spending cut balloon

Says gaming takings may be under MOP18 bln, triggering fiscal austerity

Operator to announce Studio City opening date soon

Melco Crown Entertainment boss says the resort is coming along smoothly

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