The Ghana Revenue Authority (GRA) has dismissed claims that it has frozen the financial accounts of Richard Nii Armah Quaye, the Chairman of microcredit firm BILLS. The clarification follows widespread reports alleging that Quaye’s accounts had been restricted due to tax-related concerns.
In response, the GRA emphasized that such measures are part of its standard tax assessment procedures and do not amount to an account freeze. The authority reiterated that ongoing engagements with Quaye are focused on ensuring compliance with tax obligations rather than punitive action.
According to the GRA, the current assessment forms part of its regular audit process, and these periodic reviews are conducted on businesses and high-net-worth individuals to verify tax compliance and ensure adherence to financial regulations.
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Per reports, sources within the authority confirmed that discussions with Quaye are still in progress, with the primary objective of addressing any outstanding tax liabilities.
The GRA stressed that such reviews are not uncommon and are intended to enhance transparency within Ghana’s tax system. “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 told Joy Business
Despite initial reports suggesting otherwise, the GRA has made it clear that Quaye’s accounts have not been frozen. Instead, he is required to fulfill any outstanding tax payments, including duties on imported goods, as part of the compliance process.
