Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 19): Deputy Finance Minister Datuk Chua Tee Yong said the government refunded RM4.5 billion of input tax claimed by companies under the goods and services tax (GST).

Chua said this in Parliament today in response to a question by PKR vice president and Pandan MP Rafizi Ramli on whether the government was facing financial constraints.

Rafizi claimed that companies had complained they did not receive the refund from the government; hence, pressure on these companies' cash flow.

Chua rebutted: "The perception that the government does not have money is wrong. If the government does not have money, it will not be able to pay for a refund of RM4.5 billion."

The country implemented the GST since April 1 this year. Today, Chua said the GST was at the early stage of implementation and there was room for improvement.

He said there was room for improvement not only in the refund process but also the GST filing by the companies.

"The delay of refund could be due to the companies using the wrong form to claim the refund. In addition, some investigations are launched against some companies as the claims made were ridiculous and inaccurate.

"We can see that the companies that made the refund claim within 14 days have improved every month. The latest figure showed that it currently stood at 41%. There is still room for improvement," Chua said.

Chua said Prime Minister Datuk Seri Najib Tun Razak would elaborate on the GST collection and usage when he announces Budget 2016 this Friday.

 

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