KUALA LUMPUR, Nov 14 – The Public Accounts Committee (PAC) has wrapped up its investigations into the “missing” RM19.4bil Goods and Services Tax (GST) credit refunds.
Its chairman Datuk Seri Dr Ronald Kiandee (pic) said the committee had finished its probe after calling its final witness, Finance Minister Lim Guan Eng.
“We will be holding another meeting to make a final report before tabling it in Parliament,” he told reporters at the Parliament lobby after chairing the meeting on Wednesday (Nov 14).
Asked if there were any wrongdoings detected, Dr Kiandee said he cannot pre-empt the conclusion of the report.
“We have to sit down and go into the details based on the evidence and documents given to us since the last month,” he said, adding that the report will be tabled as soon as possible.
“Perhaps, by the end of this year or early next year,” he said.
Meanwhile Lim said the PAC was under the false impression that the RM19.4bil was still available.
“They were under a false impression, (for) which I was quite surprised,” he said.
“We told them it (RM19.4bil) is not there and I think it is clear that it is not there.
“If it is there, then I would be having a big celebration, we wouldn’t have to take from Petronas (special RM30bil dividend),” said Lim, who added that the PAC understood the explanation he provided to them.
He reiterated that the Government will start paying the outstanding GST tax refund next year.
In Budget 2019, Lim announced that a one-off special dividend of RM30bil from Petronas will be used to repay outstanding GST and income tax refunds of RM37bil.
In August, the Dewan Rakyat was told by Lim that the former Barisan Nasional-led government had not been able to refund companies their tax credit from GST because 93% of the money had not been placed in the correct account.
Lim claimed then that some RM18bil of the RM19.4bil input tax credit under the GST had been “robbed” by the previous administration.