The Ghana Revenue Authority (GRA) is undertaking an Income Tax Assessment on business magnate and Chairman of Micro Credit firm BILLS, Richard Nii Armah Quaye.
The process is part of an audit system by the GRA to ascertain the level of tax compliance by the businessman. The authority has however denied freezing the financial accounts of Mr Quaye.
Sources at the GRA say discussions have started for Mr Quaye to pay all tax obligations as a businessman.
In addition, the GRA also issued an assessment of import duty on Mr Quaye’s luxurious Bugatti Chiron which he paid.
This is contrary to some reports suggesting that the authority has frozen the accounts of the entrepreneur, a claim denied by sources at the GRA.
According to the GRA, it is a collaborative tax administration exercise undertaken periodically, especially with clients who have good records of tax payments.
Mr Quaye would be required to honour tax obligations on imported goods after the assessment upon recommendation by the GRA.
“The development is positive for the relationship of both parties as the country is hoping to increase tax revenue this year”, a source told Joy Business.
These developments are emerging after a lavish birthday organised by Mr Quaye to mark his 40th birthday.
 is undertaking an Income Tax Assessment on business magnate and Chairman of Micro Credit firm BILLS, Richard Nii Armah Quaye.){kind=link}