Finance Ministry to settle GST refund arrears by this year

The Ministry of Finance will settle the Goods and Services Tax refund arrears totalling RM4.763 billion by the end of the year.He attributed the process delay to invalid bank registrant information and failure of registrants to respond and submit the relevant documents for verification.

“The government in an announcement on June 15, 2020 agreed for the Royal Malaysian Customs Department to take a pay first and audit later approach for selected companies based on the Goods and Services Tax Act 2018 and certain criteria. Mohd Shahar said the ministry was mobilising its staff to ensure that none of the affected companies would be neglected.

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