Industrial Tax

	Businesses located on outlying islands are entitled to 50% reduction (except for offshore banking business).
	Approved newly constructed or expanded facilities for tourism purposes may be granted 100% exemption for a period of up to eight years in Macao city and twelve years on outlying islands.*
	Industrial businesses with new establishment, expansion, restructuring or transformation of operations may be granted 100% exemption generally for a period of one to three years.*
	Approved offshore institutions, including offshore financial institutions, offshore trust management institutions, offshore commercial services institutions and offshore auxiliary services institutions, authorised to operate in the territory of Macao shall be granted full exemption provided that they carry out offshore activities complying with the Macao offshore law.
Note: Full exemption of Industrial Tax is granted by Macao Government to all businesses in Macao for the fiscal year 2012.