KUALA LUMPUR, Oct 10 — Government tax refunds increased by 17.8 per cent to RM25.72 billion in 2022 compared to RM21.84 billion in 2021, according to the Auditor-General’s Report (LKAN) 2022.
Of that amount, RM24.26 billion was the income tax refund, a 20.2 per cent increase from the RM20.19 billion that was refunded in 2021.
Goods and services tax refunds increased 13.4 per cent to RM686.06 million in 2022, while real property gains tax refunds fell 25.6 per cent to RM771.69 million compared to RM1.04 billion in 2021.
The report said tax refunds on income and real property gains were managed by the Inland Revenue Board (LHDN) using the Tax Refund Fund Trust Fund (TBBC) allocations.
In 2022, as much as RM22 billion had been allocated for tax refund purposes.
“TBBC’s balance at the end of 2022 was RM10.19 billion,” the report said.
Meanwhile, LKAN said the Royal Malaysian Customs Department (JKDM) managed the Goods And Services Tax refunds. The Goods And Services Tax refunds in 2022 amounted to RM313 million, and the repayment was made using the Goods and Services Tax Refund Fund.
— Bernama
