Macau Is Policing Corruption More Than Before

What Is AliPay?AliPay is the payment service owned by AliBaba, and the service processes millions of transactions a year throughout China. The service has never been accused of impropriety, but the service is coming under fire because of the corruption currently present in Macau. AliPay has not been charged, but the government wants to ensure the company is operating properly.They Want Strong ProceduresThe Macau government is looking for strong procedures that will help protect the government from unpaid taxes. Unpaid taxes have been a strong concern for the government as people win money on the island. Consumers have been accused of using bank transfers to avoid paying taxes on their winnings, and the same is true of people bringing money onto the island. Bank transfers have been used to avoid import duties or declarations, and the consumers who were once doing this may use AliPay in the future to avoid taxation.

How Will The Government Intervene?

The government of Macau will intervene with new security procedures that it chooses for the casino industry. AliPay could be forced to abide by new rules, and the new rules for the company could include processes that were never used before. The company may be put through a strict process that is needed to help ensure taxes are paid, and the company could be under investigation or probation for some time.

Are Consumers At Risk?

Consumers are not at risk because of this new concern, but consumers are definitely under fire for not paying their taxes. Anyone who has been avoiding taxes in the past will be forced to pay taxes on their cash winnings, and many consumers may choose to avoid the island. The government must do something to avoid a loss of tax revenue, and this is the next best step in their journey.

Taking back the island of Macau from tax fraud is a slow drag for the government of Macau. The government is looking into every business that manages money, and consumers will be forced to pay taxes whether they want to or not. The end result is a safer environment for everyone.