He said the arrears, comprising RM18 billion for income tax and RM19 billion for the goods and services tax based on estimations in the 2019 budget, would be paid in stages within 10 months.
“We are going to begin the process of refunds, but it is not going to be refunded at one go,” he said in a press conference here today.
“We are not paying yet, but we intend to do so over 10 months of the year,” he said, adding that it was not advisable for the government to pay the arrears in one go.
“If we release (the refunds) in one go, our banker will say, why don’t you spread it out so that you can get the full impact of multiplier effects and boost the local economy,” he said.