PUTRAJAYA, Jan 18 ― The government is now in the process of repaying the tax refund arrears amounting to RM37 billion, said Finance Minister Lim Guan Eng.  

He said the arrears, comprising RM18 billion for income tax and RM19 billion for the Goods and Services Tax based on the estimation made in the 2019 Budget, would be paid in stages within 10 months. 

"We are going to begin the process of refunds, but it not going to be refunded at one go, that will be a really lumpy figure,” he said in a press conference on the appointments of the joint lead arrangers for the Samurai Bond here today.

“We not paying yet but we intend to do so over 10 months of the year,” he said, adding it was not advisable for the government to pay the arrears at one go.

“If we release (the refunds) at one go, I don’t think it is advisable and our banker will say, why don’t you spread out so that you can get the full impact of multipier effects and boost the local economy,” he added. ― Bernama