Extracts from Malaysiakini:
'PAC finds GST refunds not 'robbed', as Guan Eng claimed'
The Public Accounts Committee is believed to have found that Finance Minister Lim Guan Eng's claim, that the previous BN government "rompak" (rob) funds meant for GST refunds, to be inaccurate.
Malaysiakini was made to understand that the PAC found the BN administration overestimated how much revenue they would be receiving from GST, and underestimated the amount needed for refunds.
However, the previous government did not "rob" or dip into the consolidated accounts for the refunds, said the source.
Sources Malaysiakini contacted were tight-lipped on the matter, and urged patience until the PAC's report is made public next week.
The probe was initiated last September after Lim told the Dewan Rakyat that RM19.4 billion in GST refunds had been robbed by the previous administration.
This had caused arrears which the Pakatan Harapan government has been paying off.
Lim's predecessor Najib Abdul Razak denied the allegations, stating that the money was put into the government's consolidated fund, which was paid out to a trust fund meant to facilitate periodic repayments.
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Kaytee notes:
Presumably Guan Eng cannot be sued for Kerbau-ing in Parliament but surely he can be censured with a RM1 deduction from his paycheck, as an indictment of his recklessness.
GST refunds belong to the taxpayers, not the Finance Minister. This money should not be deposited in the Consolidated Account, which is meant for operational expenses.
ReplyDeleteGST refunds should be kept in a separate "tax refund" account held in trust.
If my lawyer holds my money in trust he deposits it in a separate Clients Account and not in his legal firm's operational account to be used to pay salaries and rent. If he uses Client's money to pay rent he can be dis-barred and charged in court for misappropriation. Even a 30-year provisional accountant like Guanee understands this principle.
The problem is Jibby seems to think that public money is his money, just like the 4B of KWAP pensioners money he transferred to SRC, which he has total control over, and then he wires this money to a small Swiss bank. The SRC Board of Directors were shocked at this transfer ordered by Jibby that they all flew to Switzerland to make sure the money was still there.
I'm so happy Guanee is FM, not Jibby.
Please deduct 19 billion from Jibby’s salary.
DeleteQUOTE
Yii cited Section 54(2) of the GST Act 2014 (which has since been repealed) that states all revenue must be placed in the trust account where either all or a portion of the money can be then moved to the consolidated account with the Finance Ministry’s approval.
“Based on the public statement by the Customs Department on Dec 15, 2018, they confirmed that all GST revenue was placed in the consolidated account without the ministry’s approval.
UNQUOTE
It would also be fitting that if it was found to be true that Jibby had moved GST Returns held trust account to the Consolidated Fund without proper approvals then KJ should move a motion against Jibby.
DeleteNote KJ uses the word "misuse, not "stolen".
This might hasten KJ's departure from UMNO to the other side of the aisle. I think KJ is looking for a good excuse to jump ship, he did say he is no longer happy in UMNO, well here is a good excuse....19.4 billion....ha ha ha
QUOTE
BN to push for action against Guan Eng if PAC rejects GST theft claim
FMT Reporters - July 11, 2019
PETALING JAYA: The opposition will push for Finance Minister Lim Guan Eng to be referred to the Rights and Privileges Committee if the Public Accounts Committee dismisses his claim that the previous administration had misused money meant for tax refunds.
This comes following reports quoting sources that the bi-partisan committee had found the claim to be inaccurate.
Rembau MP Khairy Jamaluddin said if true, Lim had misled the Dewan Rakyat and had wrongly accused the Barisan Nasional government.
“So it is only fitting that I table a motion to the Dewan Rakyat for action to be taken against this claim and the confusion sparked by the finance minister.”
UNQUOTE
Wait for the report lah.
ReplyDeleteDon't just blindly hentam just because you hate LGE guts
don't be childish and always believe in "hatred"
DeleteWakakakakakaakkaakka
ReplyDelete"Inviting a Bitch on heat into your house and hoping it doesn't bite you?"
Or
"Inviting an arsonist into your house hoping he/she does not burn your house?"
Who is the Jackass who carried out this reform of PAC Parliament so quickly when the Parliament is still full of thieves, robbers, kleptocracts, racists, religious bigots?
Wakakakakakakaka
On top of the 19.4B deduction from Jibby's salary can we deduct another 4B?
ReplyDeleteAt his trial today we are told that the then KWAP Chairman had no clue what Jibby did with the 4B that he twisted out of KWAP like it was Jibby's own money.
Just like the 19.4B GST refunds, just vanished.
QUOTE
I don’t know what SRC International did with RM4 billion loan, court heard
Bede Hong
Timothy Achariam
July 11, 2019.
FORMER Retirement Fund Inc (KWAP) chairman Wan Abdul Aziz Wan Abdullah told the court today that he did not know the outcome of the RM4 billion in loans given to SRC International Sdn Bhd.
UNQUOTE
It is an objective fact that the Account that GST refunds needed to be paid from was in the red.
ReplyDeleteLim Guan Eng may have been guilty of using over-colourful language, but there was certainly a serious accounting issue with the GST refunds.