The Ghana Revenue Authority (GRA) has refuted claims that it has frozen the financial accounts of Richard Nii Armah Quaye, the Chairman of microcredit firm BILLS. This clarification comes in response to widespread reports suggesting that Quaye’s accounts had been restricted due to tax-related concerns.
In an official statement, the GRA emphasized that the reported actions are standard tax assessment procedures rather than punitive measures. The authority clarified that its ongoing engagements with Quaye are focused on ensuring compliance with tax obligations and do not involve an account freeze, as some reports have implied.
The GRA explained that the current assessment is part of its routine audit processes, which are periodically conducted on businesses and high-net-worth individuals. These audits are designed to verify tax compliance, ensure adherence to financial regulations, and enhance transparency within Ghana’s tax system. According to the authority, such periodic reviews are common and not targeted actions against specific individuals or businesses.
Sources within the GRA have confirmed that discussions with Quaye remain ongoing. The primary objective of these discussions is to assess and address any outstanding tax liabilities. The authority has reiterated that its aim is to strengthen cooperation between taxpayers and the government rather than to impose sanctions.
“The audit is a routine exercise meant to strengthen cooperation between the GRA and taxpayers as part of efforts to boost tax revenue this year,” a source within the GRA reportedly told Joy Business. This statement underscores the tax authority’s commitment to enforcing financial regulations while maintaining a collaborative approach with taxpayers.
Despite initial reports that suggested otherwise, the GRA has firmly stated that Quaye’s accounts have not been frozen. Instead, he is required to fulfill any outstanding tax obligations, including duties on imported goods, as part of the compliance process. The authority also assured the public that it remains committed to fair and transparent tax administration, ensuring that all individuals and businesses meet their financial responsibilities without unnecessary penalties.
This clarification serves to dispel misinformation and reaffirms that the GRA’s audits are part of broader efforts to enhance tax collection and financial accountability in the country.
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