THE Goods and Services Tax (GST) refunds will not be used for other government expenditure in the future, said Finance Minister Lim Guan Eng.
Lim said the summary of the Public Accounts Committee (PAC) shows that the previous government has used the GST collections for other purposes and left a RM19.25 billion shortfall in the fund for GST refunds.
Source: The Malaysian Reserve
Latest Posts in "Malaysia"
- Malaysia Drops High-Value Goods Tax, Applies Higher Sales Tax to Luxury Items
- Malaysia Clarifies Sales Tax Refund Procedures for Manufacturers’ Machinery and Equipment Purchases
- Malaysia Updates Indirect Tax Forms Requiring More Detailed SST-02 Return Reporting
- Malaysia 2026 Budget: Tax Exemption Extensions, New LLP Tax, Carbon Tax Introduction
- Malaysia Introduces Sales Tax Exemption for ASEAN Cross-Border Goods Transport Vehicles