The Ghana Revenue Authority (GRA) has refuted circulating claims that it has frozen the bank accounts of Richard Nii Armah Quaye, the founder of Bills Micro Credit Ltd. According to a statement released by the Authority today, March 27, 2025, no enforcement action has been taken against Mr. Quaye, though an income tax assessment of GH₵30 million has been raised against him.
The clarification follows widespread reports on social media and other platforms alleging that the GRA had moved to freeze Mr. Quaye’s accounts as part of a tax enforcement action. In its statement, however, the Authority emphasized that while tax assessments have been raised, no garnishment or account freezing has been initiated.
GRA Outlines Standard Tax Procedures
The GRA took the opportunity to outline its standard procedures regarding tax assessment and enforcement. According to the statement, the Authority first engages taxpayers by requesting voluntary disclosure of income. If taxpayers fail to declare their earnings within the stipulated timeframe, assessments are issued. It is only after non-compliance with these assessments that enforcement actions such as account freezes or garnishments are considered.
“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,” the statement indicated.
Public Urged to Disregard False Reports
The GRA has urged the public to ignore the reports about freezing Mr. Quaye’s bank accounts, calling them inaccurate. The Authority reaffirmed its commitment to fairness and due process in handling tax matters, emphasizing that no punitive measures had been taken against the businessman at this stage.
Additionally, the Authority reminded taxpayers to voluntarily disclose their incomes and settle outstanding tax obligations promptly to avoid penalties, interests, and potential 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,” the statement concluded.
