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Tuesday, March 21, 2023

PM: Not true Guan Eng revoked Albukhary's tax-exempt status

 


PARLIAMENT | Prime Minister Anwar Ibrahim has denied claims that Bagan MP Lim Guan Eng, as then finance minister, revoked the Albukhary Foundation's tax-exempt status.

Anwar told the Dewan Rakyat today that under sub-section 44(6) of the Income Tax Act 1967, the Inland Revenue Board's director-general has full power over matters related to tax exemption, with no interference from the finance minister or prime minister.

"The Albukhary Foundation has been given approval for tax exemption under subsection 44(6) of the Income Tax Act 1967, and the government has confirmed based on finance ministry's records that YB Bagan (Lim) as then finance minister had never revoked the status as alleged," said Anwar during the Prime Minister's Question Time.

"Therefore, the allegation that he (Lim) revoked the tax exemption is not true because the fact is that the unprecedented approval for tax exemption involving the Albukhary Foundation and Albukhary Group was only given on Feb 25, 2021," said Anwar, who is also the finance minister.

On March 9, former prime minister Muhyiddin Yassin accused Lim of revoking the tax exemption granted to the Albukhary Foundation when the latter was finance minister.

Former prime minister Muhyiddin Yassin

Muhyiddin made the claim after he was summoned by the MACC to have his statement recorded, and among the issues raised by the anti-graft agency was the appeal against the cancellation of the tax exemption granted to the Albukhary Foundation.

Lim has since denied the claim.

In a press conference at Parliament today, Lim reiterated that he had never given a revocation order for the tax exemption and urged Muhyiddin to withdraw the allegations against him or he will take more decisive action.

"I hope he (Muhyiddin) retracts his statement and apologises to me.

“… I hope he will follow the parliamentary proceedings directly and know what has happened. I hope he does the right thing with dignity and withdraws as well as apologises so that this matter can be resolved.

"I will give him until today, otherwise we will wait for tomorrow," he said, confused as to why he was being dragged into issues that were being investigated by the authorities, specifically on the Jana Wibawa and Albukhary Foundation cases. - Mkini

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