The GRA has confirmed the income tax assessment for Richard Quaye but denied freezing his accounts.

 

The Ghana Revenue Authority (GRA) has confirmed that it issued an income tax assessment for businessman Richard Nii Armah Quaye, founder of Bills Micro Credit Ltd. However, the GRA clarified that his accounts have not been frozen.

In a statement dated March 27, the GRA explained that this assessment is part of regular procedures to ensure that taxpayers comply. They stressed that enforcement actions are only taken if taxpayers do not cooperate after receiving an assessment. The statement detailed the standard procedures for tax assessments.

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 for the payment of the tax due.

It further stated:

Enforcement actions such as garnishment of accounts are resorted to only after taxpayers have refused to cooperate with the Authority following the tax assessments raised.

The GRA reiterated that although an income tax assessment has been issued for Mr. Quaye, no enforcement actions have been implemented.

In the case of Mr. Richard Nii Armah Quaye, 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 GRA encouraged all eligible taxpayers to follow tax regulations by voluntarily reporting their income and making the required payments.

It cautioned that failing to comply could lead to penalties, interest charges, and additional enforcement actions.