GRA denies freezing Richard Nii Armah Quaye’s accounts, clarifies tax assessment process

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

In a statement issued by its Communication and Public Affairs Department, the GRA confirmed that while a personal income tax assessment has been raised against Quaye, no enforcement action—including the freezing of bank accounts—has been initiated.

According to the GRA, the process of assessing and collecting taxes is strictly structured. Taxpayers are first engaged and requested to voluntarily declare their incomes.

If they fail to do so within the required period, the authority then raises an assessment based on available financial data. Enforcement measures, such as freezing bank accounts, are only applied if a taxpayer continues to refuse cooperation after being duly notified of the assessment.

“In Mr. Quaye’s case, an income tax assessment has been issued, but we want to stress that no enforcement action has been taken against him,” the statement read.

The GRA’s protocol is designed to ensure fairness and transparency in tax collection. By engaging taxpayers early and giving them an opportunity to comply voluntarily, the Authority aims to avoid punitive actions. The GRA reiterated that its approach is rooted in its core values of integrity, fairness, responsiveness, service, and teamwork.

The GRA urged the general public to disregard the unverified social media reports. It emphasised that such misinformation not only misleads taxpayers but also undermines public confidence in the institution’s commitment to due process.

Additionally, the authority encouraged all eligible taxpayers to voluntarily disclose their incomes and fulfil their tax obligations. The statement warned that failure to do so may result in penalties, interest charges, or other legal consequences.

With these clarifications, the GRA reaffirmed its commitment to maintaining transparent and efficient tax administration. The authority’s prompt response to the allegations underscores its dedication to upholding the rule of law and ensuring that all tax-related processes are carried out fairly and systematically.