GRA undertakes Income Tax Assessments on business mogul Richard Armah Quaye's investments

The Ghana Revenue Authority (GRA) is assessing the income tax of Richard Nii Armah Quaye. He is a business mogul and Chairman of Micro Credit firm BILLS.

This assessment is part of an audit to check his tax compliance. The GRA has denied freezing Mr. Quaye's financial accounts.

Sources at the GRA say discussions are ongoing for him to pay his taxes. They also issued an import duty assessment on his Bugatti Chiron, which he paid.

Reports claiming that the GRA froze Mr. Quaye's accounts are false. The authority clarified this through its sources.

The GRA stated that this is a routine tax administration exercise. It focuses on clients with good tax payment records.

Mr. Quaye must fulfill tax obligations on imported goods after the assessment. This follows recommendations from the GRA.

A source told Joy Business that this development is positive for both parties. The country aims to increase tax revenue this year.

These events follow Mr. Quaye’s lavish 40th birthday celebration in Accra.

He celebrated at Black Star Square with a star-studded event. Many local and international dignitaries attended, including business elites and entertainers.

The extravagant party was called #RNAQ40 and featured influential personalities like Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong.

Government officials, industry leaders, and international figures also honored Mr. Quaye's achievements over the years.

Performances by Nigeria's Davido and Ghana's Sarkodie thrilled the audience. Stonebwoy brought Afro-dancehall energy that kept everyone dancing.