RM5 billion in GST refunds so far, says deputy
minister
The government has given out approximately RM5 billion
in goods and services tax (GST) refunds to companies,
said Deputy Finance Minister Datuk Chua Tee Yong.
"It is not true to say that the government did not
refund. In fact, approximately RM5 billion in refunds
have been made to date," he said.
"Only those who were ineligible for the refunds,
including companies which were unfit to file GST refunds
but still submitted claims request, did not receive any
refund," he told reporters after opening the Corporate
Malaysia Roundtable Post Budget 2016 Dialogue in Kuala
Lumpur today.
Chua said since the GST implementation in April, the
government had rejected claims for refunds worth about
RM400 million as many errors were made by companies
making the claims.
He said the Customs Department had to be extra careful
when processing refunds in order to avoid any incidence
of monies being paid to wrong accounts.
Chua also said GST refunds made within 14 working days
had increased 41% since the new tax regime was
implemented on April 1, 2015, and the government
expected the percentage to increase further.