Macau published Law No. 24/2024 in the Official Gazette on 30 December 2024, which approves a new Tax Code, as well as amendments to existing tax regulations. According to a government release, the Tax Code is meant to optimize the business environment and enhance competitiveness in attracting investment by establishing a modern tax regime in line with international tax standards. Some notable points of the new Tax Code include the introduction of the concept of permanent establishment. This includes the general provision that a permanent establishment is considered to be any fixed facility through which an activity of a commercial...