The Public Accounts Committee today confirmed that no goods and services tax 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.said in a statement ahead of the parliamentary tabling of the investigation report that the shortfall was instead the result of a projection error.
In July last year, Finance Minister Lim Guan Eng alleged in Parliament that the Barisan Nasional administration “robbed” the country of an estimated RM19 billion meant for GST refunds. “There was no loss of funds from GST revenue collections. The revenue was not transferred to the GST refund pool but was used to fund management and development expenses.The report on “missing” GST refunds will be tabled later today.
Chairman, just asking was it done on purpose or purely ignorant. If the latter we can't brained it since many are qualified accountants. Btw can we hv d list of the spending & project progress rpt..
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