No missing GST refunds but laws not followed, says PAC
Robin Augustin
-July 15, 2019 10:59 AM
Public Accounts Committee chairman Noraini Ahmad.KUALA LUMPUR: The Public Accounts Committee (PAC) today confirmed that no goods and services tax (GST) refund money has gone missing.
However, the committee said there had been a violation of the Goods and Services Tax Act 2014 when the funds were transferred into a Consolidated Revenue Account instead of the GST Refund Account.
It said this did not fulfil Section 54(2) of the act.
In a statement, PAC chairman Noraini Ahmad said the GST revenue which was not transferred to a fund for the refunds was used for development and management expenses
“The previous administration overestimated the net GST collections by 65%,” she added.
This follows reports quoting sources as saying that the bi-partisan committee had disputed a claim by Finance Minister Lim Guan Eng that the previous administration misused money meant for tax refunds.
