6 November 2020 the PUBLIC ACCOUNTS COMMITTEE (PAC

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6 November 2020 the PUBLIC ACCOUNTS COMMITTEE (PAC

PARLIAMENT PUBLIC ACCOUNTS COMMITTEE (PAC) Phone : 03-2601 7263 / 2698 6852 (DL) PARLIAMENT OF MALAYSIA Fax : 03-2698 9218 PARLIAMENT STREET E-mail : [email protected] 50680 KUALA LUMPUR Website : http://www.parlimen.gov.my/pac 6 November 2020 THE PUBLIC ACCOUNTS COMMITTEE (PAC) MEDIA STATEMENT KUALA LUMPUR: The Public Accounts Committee (PAC) has received the feedback from the Ministry of Finance (MOF) relating to its two recommendations of the report on the Good and Services Tax (GST) Arrears Claim tabled in the Parliament in July 2019. The MOF, in its report to the PAC has stated that following the PAC’s recommendations, the Ministry and the Royal Malaysian Customs Department have acted to put all the GST collection in the Consolidated Revenue Account into the Fund for Goods and Services Tax Refund (KWBPB) compared with the previous practice of putting the GST collection into the Consolidated Revenue Account. “Aside from that, the MOF has amended the KWBPB GST trust deed by making an additional trust deed to enable this fund to continue functioning even though the GST was abolished on 1 September 2018,” the report said. Yesterday, the PAC tabled its report in the Dewan Rakyat regarding the actions taken by the MOF on its two recommendations based on the outcome of the proceedings carried out on the GST arrears refund claim worth RM19.4 billion. Previously, the PAC, in its report, has come out with two recommendations for the Government after carried out 10 proceedings starting from 12 September 2018 until 14 May 2019. The PAC has conducted an investigation into the issue when the former Minister of Finance, Lim Guan Eng alleged that an amount worth RM19.4 billion of the GST money ‘was robbed’ by the Barisan Nasional (BN) Government. The report also clarified that the MOF complied with the recommendations by the PAC to ensure full compliance with the country’s laws in the implementation of financial procedures and for that purpose, the Ministry will add more members to the KWBPB GST committee. The Director of the National Budget Office and the Head of Division of the Fiscal and Economics Division of the MOF are also included as the new members of the committee, which will be chaired by the Secretary General of Treasury. Thank you. .

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