Richard Nii Armah Quaye, founder of Bills Micro Credit Ltd.
The Ghana Revenue Authority (GRA) has dismissed claims that it has frozen the bank accounts of businessman Richard Nii Armah Quaye, founder of Bills Micro Credit Ltd.
The GRA’s denial follows reports alleging that the Authority had taken enforcement action against Quaye and imposed a personal income tax assessment of GH₵30 million on him.
In a statement issued on Thursday, March 27, the GRA clarified that no such enforcement action, including freezing his bank accounts, has been taken.
However, it confirmed that an income tax assessment has been issued against him.
“In the case of Mr. Richard Nii Armah Quaye, the GRA has not commenced any enforcement action against him, including freezing his bank accounts. The Authority has issued an assessment on him relating to his income taxes,” the statement read in part.
The GRA advised the public to ignore reports claiming that Quaye’s accounts had been frozen.
“The GRA, therefore, requests the general public to disregard publications on social media and other platforms stating that Mr. Quaye’s bank accounts have been frozen by the Authority. We also urge all eligible taxpayers to voluntarily disclose incomes earned and pay the taxes due to the GRA to avoid penalties, interest charges, and other sanctions,” the statement said.
The statement further emphasized that the GRA determines taxpayers’ incomes in accordance with standard procedures.
“The GRA engages all taxpayers to assess their incomes earned and follows a standard procedure in communicating with them. These processes include writing to request taxpayers to voluntarily declare their income, raising assessments when they fail to declare their income by the due date, and following due processes to request payment of the tax due,” the statement explained.
Assuring the public of its dedication to equitable and open tax administration, the GRA promotes voluntary compliance to avert fines and other legal repercussions..
KA
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