KUALA LUMPUR, Jan. 26 -- The Malaysian government has accumulated RM33.3 billion in outstanding tax refund commitments between 2020 and 2024 - a figure former economy minister Datuk Seri Rafizi Ramli suggested could be concealing the country's actual fiscal deficit.

Speaking in the Dewan Rakyat this evening, the Pandan MP said the delay in returning overpaid taxes to individuals and companies effectively allows Putrajaya to report higher revenue than it genuinely retains.

He described this as a consequence of "cash accounting", where revenue is recorded upon collection without deducting funds owed back to taxpayers.

Rafizi noted that federal tax refund commitments rose from RM14.6 billion in 2020 to RM33.3 billion by 2024, and estimate...