Juliet Risdon is a Director of JML Property and a property investor.
Having established the company in 1994, JML Property offers Investment Property & Homes. It specializes in managing properties for owners and investors, and providing attractive and comfortable homes for tenants.
This is the final instalment of the three-part series of articles on the ‘thrilling’ subject of Land and property Tax.
This week we answer the remainder of the most popular questions we are asked by clients on Land and property tax.
12. What do I have to do to register a tenancy agreement?
An M4 form original signed by the owner of the property
A copy of the owner or tenant ID
A copy of the Agreement
A declaration of submission prepared and signed by the person submitting the documents
The agreement is registered and a Stamp Duty of approx. 0.5% of the total value (Length of lease x rental amount) of the agreement is payable at the time of registration or advised later if more than $1,000 (this process is currently delayed by 3-4 months as pointed out at the beginning of this article).
13. Anything else I should know?
The Macau Government calculates a nominal interest on overdue payments on a daily basis.
The tax office and outstanding payments office are two different locations.
Tax Exemptions are possible for Macau ID holders paying income tax. For full details check the Macau Gov DSF Website.
New properties enjoy a tax exemption holiday that differs whether the property is located in Macau, Taipa or Coloane.
14. What do I need to do to check if there is any tax outstanding?
Email a copy of the property address and form of ID to someone you trust in Macau, and if you would like JML assistance please send to Finance@JMLProperty.com
A) Change The Address Where Tax Bills Are Sent:
Use an M10 form available from the government website to change the address to which tax bills are sent (Chinese & Portuguese. only). Bills can be sent to your home or office address or again JML are happy to help.
Take the M10 form to a notary IN MACAU and have the signature notarized and pass the form to the person representing you in Macau.
If you are outside of Macau, take the form to a public notary, double check that the notary is recognized in Macau, then notarise the signature and send the form to your representative here.
The signature MUST be the same as the one shown on your ID / Passport
B) Register to access Tax Bills Online (In Chinese & Portuguese Only)
Go to the link Macau Gov DSF Website (in Chinese & Portuguese only) to register online. Register your own e mail address to receive updates and reminders from the tax office.
Sign the Registration form and the Declaration forms. The registration form signature must be notarized in Macau. The signature MUST be the same as the one shown on your ID / Passport.
If you are outside Macau, please double check that the notary is recognized in Macau.
That concludes this article. Please let us know if you have any questions and we will be happy to answer you.