GRA denies freezing Bills Micro credit founder’s bank accounts

The Ghana Revenue Authority (GRA) has dismissed reports alleging that it has frozen the bank accounts of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd.

In a press statement issued on Thursday (March 270,, GRA clarified that while a tax assessment of GH₵30 million has been raised against Quaye, no enforcement action, including the freezing of his accounts, has been taken.

“The Authority has issued an assessment on him relating to his income taxes, but we have not commenced any enforcement action such as freezing his bank accounts,” the statement read.

GRA urged the public to disregard the false reports and assured that it follows due process when dealing with tax assessments. The Authority explained that enforcement actions, including account garnishments, only occur when taxpayers refuse to cooperate after assessments have been raised.

Additionally, GRA encouraged all eligible taxpayers to voluntarily disclose their incomes and fulfill their tax obligations to avoid penalties, interest, and other legal consequences.

The Authority reaffirmed its commitment to fairness, integrity, and transparency in tax administration and assured the public of its adherence to due process in all matters related to tax compliance.

Source: Gh Extractives