Govt has begun repaying RM37 bil refunds for GST, income tax arrears, says Guan Eng

Finance Minister Lim Guan Eng.

KUALA LUMPUR: The government has begun the process of repaying tax refund arrears amounting to RM37 billion, says Finance Minister Lim Guan Eng.

“This year, we have hope the country’s economy will improve, as we are repaying tax refund arrears for the goods and services tax (GST) and income tax of up to RM37 billion.

“It will be paid within 10 months and the payment has already begun.

“This will spur economic development,” he told reporters after attending the Malaysia-China Chamber of Commerce Lunar New Year celebration here today.

The GST arrears refund amounts to RM19 billion while the income tax refund amounts to RM18 billion.