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> Customs says GST refunds short by 19.4b, Where has the shortfall of 18b gone to ?

Xaser_3
post Aug 14 2018, 06:13 PM

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QUOTE(puchongite @ Aug 14 2018, 06:08 PM)
It will appear to me the more LGE talks in the parliament the more credibility he will lose. He needs to quickly converge it, either by identifying the culprit or pass it to an external investigation authority. BTW, what is stopping MACC to already start investigation, based on KJ and Irwan Serigar's report ?
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I honestly do not know but I certainly hope for his own credibility, he does something instead of just talking.
andrekua2
post Yesterday, 01:27 PM

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QUOTE(Xaser_3 @ Aug 14 2018, 06:13 PM)
I honestly do not know but I certainly hope for his own credibility, he does something instead of just talking.
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Honestly there is nothing much he can do. Money being paid already collected by Kastam and handed over to Federal Government. Government didnt return it thus now become a debt for the current government to cough up. He is right by saying it has been misused but what can he do about it? He is just a finance minister looking after the books, not prosecutor or anything.

Personally I take the disclosure as a bomb to deal the killing blow to GST. The money aint missing but already being channelled to pay for something else instead being refunded. I think it would be hard to convict anyone over this because there is no money trails.
Xaser_3
post Yesterday, 01:32 PM

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QUOTE(andrekua2 @ Aug 15 2018, 01:27 PM)
Honestly there is nothing much he can do. Money being paid already collected by Kastam and handed over to Federal Government. Government didnt return it thus now become a debt for the current government to cough up. He is right by saying it has been misused but what can he do about it? He is just a finance minister looking after the books, not prosecutor or anything.

Personally I take the disclosure as a bomb to deal the killing blow to GST. The money aint missing but already being channelled to pay for something else instead being refunded. I think it would be hard to convict anyone over this because there is no money trails.
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I find it mind boggling as to how such a huge sum of money can be channel some where else without any money trails. They surely have records and somebody surely knows.
andrekua2
post Yesterday, 09:09 PM

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QUOTE(Xaser_3 @ Aug 15 2018, 01:32 PM)
I find it mind boggling as to how such a huge sum of money can be channel some where else without any money trails. They surely have records and somebody surely knows.
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How would there be money trail inside? Just like a company account where you have constant money incoming every months/weeks. Then you have expenditure and overheads as well as creditors to pay. Could you specifically say this money from this particular debtor be paid to this specific creditor? Unlike those shell companies linked with 1mdb where it don't have much except money trail going in and out of the company.

At the end of the days, you could only say the incoming is less than outgoing which result in money being misused rather than being missing. Right now they have a negative balance in the gst refunds but there's nothing left in government pocket to pay it back. At best you could do is point out to the leaks where government was paying those 1mdb loans etc, but you can't specifically link them both as a whole.

I think rakyat already knew that gst being used to help government service 1mdb loans. Lge bomb shell only act as indicator to show how severe it was and also become a strong point for them to push for gst cancellation and sst reintroduction.
puchongite
post Today, 08:44 AM

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QUOTE(andrekua2 @ Aug 15 2018, 09:09 PM)
How would there be money trail inside? Just like a company account where you have constant money incoming every months/weeks. Then you have expenditure and overheads as well as creditors to pay. Could you specifically say this money from this particular debtor be paid to this specific creditor? Unlike those shell companies linked with 1mdb where it don't have much except money trail going in and out of the company.

At the end of the days, you could only say the incoming is less than outgoing which result in money being misused rather than being missing. Right now they have a negative balance in the gst refunds but there's nothing left in government pocket to pay it back. At best you could do is point out to the leaks where government was paying those 1mdb loans etc, but you can't specifically link them both as a whole.

I think rakyat already knew that gst being used to help government service 1mdb loans. Lge bomb shell only act as indicator to show how severe it was and also become a strong point for them to push for gst cancellation and sst reintroduction.
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How can there be no money trail for money flow ? Every entity must account for it's money flow. Now what is said is that money went missing and no one don't know which entity is responsible for the missing money. This makes accounting a joke.
Xaser_3
post Today, 08:52 AM

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QUOTE(puchongite @ Aug 16 2018, 08:44 AM)
How can there be no money trail for money flow ? Every entity must account for it's money flow. Now what is said is that money went missing and no one don't know which entity is responsible for the missing money. This makes accounting a joke.
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+1
Exactly my thoughts. It is totally impossible to have no money trail at all, unless the government paid their creditors using cold hard cash and unmarked bills. Imagine, LHDN checks accounts and audits corporations and individuals for their tax repayments but suddenly the government doesn't know where that RM19 billion went. Makes zero sense.

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