No officials, previous ministers axed Yayasan Albukhary’s tax break: MoF

Ministry says to lodge police report against those making such allegations

(The Vibes) – The Finance Ministry today denied that any of its officers or previous ministers has ever cancelled the tax exemption given to Yayasan Albukhary.

In a brief statement today, the ministry also said a police report will be lodged against those who have perpetuated such false claims – amid allegations that then finance minister Lim Guan Eng had cancelled the tax exemption for the non-profit organisation.

The statement also reiterated that Yayasan Albukhary was given a tax exemption under Subsection 44(6) of the Income Tax Act 1967.

This comes after a week of former prime minister Tan Sri Muhyiddin Yassin trading barbs with Lim over the foundation’s tax exemptions.

Lim, who is also Bagan MP, has also filed a police report against Muhyiddin for criminal defamation.

He claimed that Muhyiddin’s “baseless accusations” were an attempt to shift attention from the Pagoh MP’s ongoing corruption charges.

Lim said he made the police report because Muhyiddin’s claims – that a non-Muslim finance minister revoked the tax-exempt status of a Muslim charity – could stir racial tensions and threaten national security.

Previously, Muhyiddin claimed that the tax break was approved during Datuk Seri Najib Razak’s time as prime minister, and was revoked when Lim took over the finance portfolio.

The issue of Yayasan Albukhary’s tax exemption was brought up after Muhyiddin was slapped with four charges of abuse of power involving RM232.5 million and two charges of receiving RM195 million in illicit funds.

Muhyiddin was also slapped with an additional charge of money laundering involving RM5 million.

Yayasan Albukhary is a foundation formed by billionaire philanthropist Tan Sri Syed Mokhtar Albukhary, who Muhyiddin has repeatedly described as a close friend.