Settle un-refunded excess tax from local bond market, allocate 10 percent allocation for non-bumis

Bagan MP Lim Guan Eng has called upon the federal government to source RM 20 billion required for the part payment of outstanding balance of the unrefunded excess tax from the local bond market which is valued at RM2.1 trillion.

Lim who is also DAP advisor wants the government to allocate 10 percent of the total bumiputera allocation to be given to non – bumiputeras.

“With the current local bond market of RM 2.1 trillion, raising government bonds of more than RM 20 billion would only constitute 1%. This small amount of more than RM 20 billion borrowed can be accommodated by the government without any negative monetary impact,” he said in a statement.

“The Federal government has no moral, ethical and legal right to withhold refunds of excess taxes paid when these excess taxes belong not to the government but to Malaysian companies.

“Making part-payment of RM 20 billion of excess tax refunds in January 2026 would go a long way to stimulate the local economy, help the cash flow of Malaysian companies, bridge their liquidity shortfalls and even allow payment of bonuses or ang pows to their workers before the Lunar New Year of the Horse in February 2026.

“At the same time, giving non-bumis 10% of government allocations given to bumis without reducing the original allocation to bumis, would ensure that non-bumis get their fair share of the economic cake.

“This follows unhappiness that non-bumis presently are given only 3% of what is given to bumis, a far cry from the 30% proportion of non-bumi population in Malaysia.”