Submission of Income Declaration Form Relating to the Cessation of Activity (Group A)

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How to process

Type of procedure:

Submission of Income Declaration Form relating to the Cessation of Activity (Group A).

Targets and Application Eligibility:

Profits Tax Group A taxpayers who cease temporarily or permanently their business.

Declaration Method:

The declaration form must be co-signed by the taxpayer, legal representative or attorney with the company’s accountant or certified public accountant.

Submission deadline:

Taxpayers must submit the income declaration form within 30 days counting from the date of cessation of their activities (including temporary or permanent cessation).

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Required Documents:

1. Profits Tax Group A – Income Declaration Form M/1 submitting one of the following documents mentioned in point 2, depending on the sector of activity;
2. Financial Statements (annexes A and B)
   a. ANNEX A (General Sector);
   b. ANNEX B (General Sector);
   c. ANNEX A (Insurance Sector);
   d. ANNEX B (Insurance Sector);
   e. ANNEX A (Bank Sector);
   f. ANNEX B (Bank Sector);
3. Depreciation and Amortization Form M/3.
4. Table of Disposal and Write-off of Tangible and Intangible Assets M/3A (if there is any disposal and write-off within the fiscal year);
5. Provisions Movement Form M/4;
6. Trial balance (progressive balances of the general ledger) and the final accounts;
7. Technical report;
8. Copy of the minutes of the meeting for the approval of accounts and copy of the report of the supervisory board (when legally required);
9. Supporting documents of bad debts.

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Location and office hours:

1. The “Finanças” Building – Tax Services Centre 
   Ground floor, the “Finanças” Building, Av. da Praia Grande, nos. 575, 579 e 585, Macao
   Monday to Friday         9:00 – 18:00
   Closed on weekends and public holidays.
2. Macao Government Services Centre – Tax Service
   Rua Nova da Areia Preta, no. 52, Macao
   Monday to Friday          9:00 – 18:00
   Closed on weekends and public holidays.
3. Macao Government Services Centre in Islands – Tax Service
   Rua de Coimbra, no. 225, 3rd Floor, Taipa.
   Monday to Friday          9:00 – 18:00
   Closed on weekends and public holidays.

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Penalties:

1. Failure of declaration, inaccuracy or omissions verified in the declarations shall be subject to a fine of 100 to 10,000 patacas. A fine of 1,000 to 20,000 patacas shall be levied for a deliberate violation;
2. In the case of recidivism, the fine is doubled. It is considered recidivism if a taxpayer who has been liable to a fine for an administrative violation commits the same act of infringement within 18 months;
3. Fines imposed for voluntary confessions may be halved.

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Remarks:

1. The tax should be paid in full within 15 days counting from the date of settlement;
2. Failure to settle tax in the payment month will result in a levy of interest on arrears and 3% of the tax in default within 60 days grace period following the end of the voluntary collection period. After that period, the coercive collection will take place through the tax enforcement process.

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Related Legislation:

“Profits Tax Regulation”, approved by Law No. 21/78/M, of September 9, with the necessary adaptations.

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