Govt has settled RM20.71bil in tax refunds as of Oct 31

KUALA LUMPUR: The government has refunded RM20.71 billion in excess tax payments involving 3.65 million taxpayers as of Oct 31.

Finance Minister II Datuk Seri Amir Hamzah Azizan said RM6.84 billion of the total was refunded to 3.4 million individual taxpayers.

"Meanwhile, RM13.036 billion was refunded to 206,234 corporate taxpayers, including micro, small and medium enterprises (MSMEs).

"In processing these refunds, the government has prioritised tax overpayment reimbursements for individuals and MSMEs," he said when winding up the committee-stage debate on the Supply Bill 2027 in the Dewan Rakyat today.