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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?
Decline below -10 percent
Decline from 0 to -10 percent
Growth from 0 to 10 percent
Growth above 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

Over 21,000 hotel rooms in the pipeline at end-Q2

Construction of 22 new hotels had begun and plans were afoot for 30 more

Q2 meetings and exhibitions attract fewer people

Macau held fewer big, crowd-pulling exhibitions, govt statisticians say

Air Macau’s H1 passenger load factor shrinks

Airline’s flights carry more passengers, but also have more empty seats

Yachts becalmed by Macau, Zhongshan officialdom

Freedom of navigation between the two cities postponed until end of 2015
Headlines

Success Universe swings into the red in H1

But casino operator detects signs of greater stability in the gaming market

Current account surplus MOP169.5 bln in 2014

Surplus slightly smaller than in 2013, but services trade surplus grows

July visitors decrease 3.8 pct to 2.65 mln

Fewer mainlanders and Koreans visit, but more tourists come from HK, Taiwan

Consumer price inflation slows to 4.76 pct in July

Landlords charge more for shelter and restaurateurs charge more for meals

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