The Ghana Revenue Authority (GRA) has initiated an income tax assessment on businessman and Chairman of Micro Credit firm BILLS, Richard Nii Armah Quaye.
The exercise forms part of the GRA’s routine audit process aimed at ensuring tax compliance among businesses and high-net-worth individuals. However, the authority has denied reports that it has frozen Mr. Quaye’s financial accounts.
Sources within the GRA indicate that discussions are ongoing for Mr. Quaye to fulfill his tax obligations. Contrary to claims that his accounts have been restricted, the GRA maintains that the assessment is a standard procedure undertaken to verify tax payments and ensure compliance.
According to the authority, such assessments are periodically conducted, especially for individuals and companies with a track record of tax compliance. Following the audit, Mr. Quaye will be required to meet any outstanding tax obligations, including payments on imported goods, based on the GRA’s recommendations.
“This is a routine exercise aimed at fostering a collaborative relationship between the GRA and taxpayers, as the government seeks to boost tax revenue this year,” a source told Joy Business.
Mr. Quaye Marks 40th Birthday in Grand Style
Meanwhile, Richard Nii Armah Quaye recently celebrated his 40th birthday with a star-studded event at the Black Star Square in Accra. The celebration, dubbed #RNAQ40, attracted top business executives, entertainment icons, and government officials.
Prominent figures such as Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong graced the occasion, underscoring Mr. Quaye’s influence in Ghana’s business landscape.
Musical performances from Nigerian superstar Davido, Ghanaian rapper Sarkodie, and dancehall artiste Stonebwoy added to the excitement, making the event a memorable one.