PUTRAJAYA -- Former Treasury secretary-general Tan Sri Dr Mohd Irwan Serigar Abdullah denied an allegation that about RM18 billion meant for Goods and Services Tax (GST) refunds had gone missing.
He explained that all GST proceeds were placed in the Consolidated Fund before being channelled to the trust fund to repay GST claims based on the request of the Royal Customs Department.
The procedure was provided for in the Financial Procedure Act 1957 and the information was available from the Accountant-General’s Department and Fiscal Division of the Finance Ministry.
“At the federal government cash flow management monthly meeting, the Customs (Department) will present the need for refunds and outstanding amounts due.
“Based on the (Customs’) need and the government revenue position, the meeting will decide on the allocation to be made to the trust fund,” he said when approached by reporters here.
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