GRA undertakes Income Tax Assessments on business mogul Richard Armah Quaye

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. This contradicts reports claiming that his accounts have been frozen.

The GRA stated this is a routine exercise for clients with good tax records. After the assessment, Mr. Quaye must fulfill tax obligations on imported goods.

A source told Joy Business that this development improves relations between both parties. The country aims to increase tax revenue this year.

Mr. Quaye recently celebrated his 40th birthday in style at Black Star Square in Accra. The event was star-studded, attended by local and international dignitaries.

Dubbed #RNAQ40, it featured influential personalities like Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong. Their presence highlighted Mr. Quaye’s connections within Ghana’s elite circles.

Government officials, industry leaders, and international figures also attended to honor him. Performances included Nigeria's Davido and Ghana's Sarkodie, along with Stonebwoy’s energetic Afro-dancehall set.