The Ghana Revenue Authority (GRA) has moved swiftly to address circulating misinformation surrounding the tax affairs of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd.
Reports on various media platforms have suggested that the GRA has taken drastic measures against Quaye, including freezing his bank accounts and imposing a hefty tax assessment of GHC30 million.
The Authority, however, has denied these claims and provided clarification on the matter.
GRA’s standard tax procedures
The Ghana Revenue Authority has reiterated that it follows a structured process in dealing with all taxpayers.
The tax collection process includes notifying individuals and businesses about their income and taxes owed.
The GRA sends formal requests to taxpayers, asking them to declare their income voluntarily. If taxpayers fail to respond or disclose their income by the stipulated deadline, the GRA is then authorized to raise tax assessments based on estimated earnings and the records available.
Enforcement actions, including measures like freezing bank accounts, are only implemented after taxpayers refuse to cooperate following these initial assessments.
The GRA stresses that such actions are not immediate, but are a final resort after thorough communication and compliance requests.
Richard Quaye’s case
Regarding Richard Quaye, the GRA has clarified that while an income tax assessment has indeed been raised against him, no enforcement action has been taken.
Contrary to social media reports suggesting that his bank accounts have been frozen, the GRA states that there has been no such action against Richard Quaye.
The tax assessment in question pertains to income taxes, but the GRA emphasizes that no garnishment or account freezing has been enacted at this stage.
This clarification comes after confusion spread across various online platforms, which claimed that Quaye’s financial assets had been seized by the tax authority.
The GRA is urging the public to disregard these erroneous reports and assures that it has not taken any punitive measures against Quaye thus far.
Public appeal for voluntary disclosure
The GRA also used this opportunity to remind taxpayers of their obligation to voluntarily disclose their earnings.
Failure to do so can result in not only higher assessments but also penalties, interest, and potential enforcement actions.
The authority encouraged individuals and businesses to fulfill their tax obligations promptly to avoid such repercussions.
