To ensure social stability and coordinated development, the Government will
continue to ease inflationary pressure on residents’ livelihoods, provide
assistance to disadvantaged groups, and help people in need to overcome
difficulties. After heeding widespread public opinion, the Government has decided to
roll out a number of tax cuts and waivers, financial allowances and subsidies. We
propose continuing the 25 percent reduction in personal income tax for all employed
citizens, coupled with an increase in the basic allowance for personal income tax from
95,000 to 144,000 patacas; waivers of all business taxes, hawker licence fees, wet
market stall rents, and stamp duties on life insurance, non life insurance and bank
service charges; waivers of signboard taxes (excluding tobacco and cigarette
signboards) for businesses