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Finance Minister Lim Guan Eng has revealed a whopping RM18 billion shortfall in GST refunds, which he claimed was misused by the previous administration.
The revelation follows his accusation that the previous administration had “robbed” the refunds.
When tabling the Goods and Services Tax (Repeal) Bill 2018 on Wednesday, Lim said the total GST refund amounted to RM19.4 billion from the date of its implementation until May 31, 2018.
"However, there is only RM1.486 billion (left) in the refund fund (tabung bayar balik), which is a shortfall of about RM18 billion,” he said.
The revelation follows his accusation that the previous administration had “robbed” the refunds.
When tabling the Goods and Services Tax (Repeal) Bill 2018 on Wednesday, Lim said the total GST refund amounted to RM19.4 billion from the date of its implementation until May 31, 2018.
"However, there is only RM1.486 billion (left) in the refund fund (tabung bayar balik), which is a shortfall of about RM18 billion,” he said.
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