| The Public Accounts Committee confirms the GST law was broken and GST refunds that were not paid out to taxpayers were used for other purposes.
The unpaid refunds worth RM19.4 billion involved 121,429 companies that included among the biggest conglomerates in Malaysia, like Petronas, Shell and Tenaga Nasional Bhd. According to the mechanism, all GST collections should be made directly into the Fund for GST Refunds to facilitate payment of refunds within 14 working days from the receipt of GST Return filed electronicallyUnfortunately, the GST collections were not deposited directly into the Fund for GST Refunds, and this had caused delays in GST refund payments for more than a year.
The summary of the PAC report shows that the previous Government had used the GST collections for other purposes, and left an RM19.25 billion shortfall in the Fund for GST Refunds.As stated by the Accountant General’s Department in the PAC report, the RM19.4 billion that was supposed to finance the relevant GST refunds was used by the previous government to fund its operating and development expenditures.
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