According to reports on social media and other platforms, the Ghana Revenue Authority (GRA) has frozen the bank accounts of Mr. Richard Nii Armah Quaye (RNAQ), the founder of Bills Micro Credit Ltd., and assessed GHC30 million in personal income tax on him.
The authority’s Communication & Public Affairs Department conveyed this information in a statement on Thursday, March 27, 2025.
GRA refuted claims that it had suspended the bank accounts of RNAQ.
“The Authority has issued an assessment on him relating to his income taxes,” it, however, clarified.
GRA underlined that:
- GRA engages all taxpayers to assess their incomes earned and follows a standard procedure in communicating with them. These processes include writing to request taxpayers to oluntarily declare thei income; raising assessments when they fail to declare their income by the due date and following due processes to request for the payment of the tax due.
- Enforcement actions such as garnishment of accounts are resorted to only after taxpayers have refused to cooperate with the Authority following the tax assessments raised.
- In the case of Mr. Richard Nii Armah Quaye, GRA has not commenced any enforcement action against him including freezing his bank accounts. The Authority has issued an assessment on him relating to his income taxes.
- GRA therefore requests the general public to disregard the publications on social media and other platforms that Mr. Quaye’s bank accounts have been frozen by the Authority.
- We also urge all eligible taxpayers to voluntarily disclose incomes earned and pay the taxes due to GRA to avoid the payment of penalties and interests as well as facing other sanctions.
- GRA uses this opportunity to reassure its taxpayers and the general public of its commitment and adherence to its values of fairness, integrity, responsiveness, service and teamwork.
