Guan Eng lodges police report on missing RM19.5 bln GST refunds

KUALA LUMPUR -- The police have recorded Finance Minister Lim Guan Eng’s statement over the alleged missing RM19.25 billion from the Goods and Services Tax (GST) Refund Trust Account which affected 121,429 companies and individuals.
In a statement on Tuesday, Lim said under the GST Act 2014, input tax refunds should be made within two weeks but a huge number of companies and individuals did not receive the refunds from as far back as 2015.
“A huge number of the 121,429 companies and individuals affected by this scandal are now wondering why RM19.4 billion in the GST Refunds Trust Account was not returned to them within two weeks as required by law, whether from the years as far back as 2015, 2016, 2017 or 2018,” he said.
Lim said the government faced a shortfall of RM19.25 billion as there was only RM148.6 million in the GST Refunds Trust account instead of RM19.4 billion.

“Where is the RM19.25 billion that went missing since 2015? The Federal Government is working hard to return RM19.4 billion beginning next year because the money does not belong to the government but the people,” he added.

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