GST refund: Punish the wrongdoers
FocusM | 19 Jul 2019 00:30
THE claims by Finance Minister Lim Guan Eng last year that the country was “robbed” of RM19.4 bil in Goods and Services Tax (GST) refunds during the previous administration were serious.
Following investigations into the matter, the Public Accounts Committee (PAC) has concluded that there was no loss of funds from GST revenue collections as such but the funds were instead used for management and development expenses. In other words, the money was not directly deposited into the fund for GST refunds, but placed into the Consolidated Revenue Account.
Well, perhaps the choice of words and clarity by Lim could have been better but the fact remains that the law was broken where the GST refunds were concerned. And clarifying it only after the PAC report was released makes it worse.
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