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Saturday, 11 August 2018

Customs DG Statement proves Finance Minister Lim Guan Eng was totally right RM18bil of RM19.4bil in GST refunds were missing under BN Rule


Customs DG: RM19.4bil for GST refunds not approved during monthly meetings

Friday, 10 Aug 20186:38 PM MYT




PETALING JAYA: The Customs Department had requested for RM19.4bil for the Goods and Services Tax (GST) refunds over a period of three years but it was not approved during the monthly trust fund meetings, said its director-general Datuk Seri T. Subromaniam.

He said the required amount for the refunds for the period of April 1, 2015 until May 31, 2018 was RM82.9bil but only RM63.5bil was transferred to the trust fund throughout the period.


“The Customs Department has requested for RM82.9bil from the monthly meetings but the amount was not transferred in full.



He said all GST payments go into the Federal Government’s consolidated funds account which will then be transferred to the trust fund for GST refunds.

“As of May 31, the trust fund is facing difficulties paying the arrears of GST refunds totalling RM19.4bil,” Subromaniam said.

His statement comes after Finance Minister Lim Guan Eng said that RM18bil of RM19.4bil in GST refunds were missing under the previous Barisan Nasional government.


Read more at https://www.thestar.com.my/news/nation/2018/08/10/customs-dg-rm19_4bil-for-gst-refunds-not-approved-during-monthly-meetings/#pmeUivcl1hK36bYS.99

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