PAC to table report on 'missing' RM19.4bil GST refunds by next week


KUALA LUMPUR: The Public Accounts Committee (PAC) is set to table its findings into the "missing" RM19.4bil Goods and Services Tax (GST) credit refunds in Parliament by next week.

"We are at the last stage of investigations and we hope to wrap up the probe by next week.

"There are a few more things to tie up with the Audit Department and hopefully we can table the report in Parliament by next week," PAC deputy chairman Wong Kah Woh (pic) told reporters in Parliament lobby on Tuesday (April 2).

Last August, the Dewan Rakyat was told by Finance Minister Lim Guan Eng 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.

On a separate case, Wong said that the PAC will begin its probe into land swap deals involving the Defence Ministry (Mindef) which resulted in losses of RM258mil to the government.

"The deal involved Mindef purchasing a piece of land in Paloh at high market rate and later swapping it for a piece of land in Selangor at a lower market rate.

"This resulted in a double loss for Mindef and the government," he said.

Besides the land swap deal in Selangor, Wong said the PAC is also looking at a deal involving land in Negri Sembilan.

Wong said the PAC will be calling former auditor-general Tan Sri Ambrin Buang to shed more light on the land swap deals before conducting the probe.

Wong Kah Woh , PAC , Parliament