KUALA LUMPUR, Aug 24 — A total of RM16.04 billion in tax refunds over the last six years has yet to be paid to taxpayers, the Internal Revenue Board (LHDN) confirmed today.
In a statement, director-general Datuk Seri Sabin Samitah said this affected 1,653,786 companies, individuals, associations and foundations, as of May 31.
In a monthly meeting of the Finance Ministry’s Cash Management Committee with former secretary-general to the Treasury Tan Sri Mohd Irwan Serigar Abdullah, Sabin said LHDN had been informed of the funds status and had asked for an additional allocation for tax refund purposes.
“LHDN confirms the statement by Lim Guan Eng that there was insufficient allocation into the refund trust funds,” he said, referring to the finance minister.
“Due to the insufficient funds, the priority of tax refunds went to individual taxpayers,” said Sabin, adding that as of July 31, 90 per cent of individual taxpayers had received their refunds.
He said the refunds for other categories had yet to be paid as there is no additional allocation.
“LHDN will put into consideration taxpayers who have tax credit that needs to be paid by LHDN to offset the tax that must be paid annually.
“Taxpayers will need to submit their application at the LHDN branch that manages their tax filing,” he said in the statement.
“Taking into account the monetary restrictions due to the national debt of over RM1 trillion, Lim Guan Eng is making an effort to source for funding for tax refunds in the following years to come.”
Related Articles Probe missing RM16b in tax refund under CBT, Perak rep urges police LHDN siasat semula RM2.6 bilion diterima Najib Dr M: Certain individuals, businessmen forced to pay extra tax under previous govt