- GRA audits Richard Quaye, denies account freeze
- Quaye has paid import duty for his Bugatti Chiron
- The news follows Quaye's lavish 40th birthday celebration
The Ghana Revenue Authority (GRA) is conducting an Income Tax Assessment on Richard Nii Armah Quaye, the business tycoon and Chairman of Micro Credit firm BILLS.
This audit is part of the GRA’s routine process to evaluate the tax compliance of businesses, but the authority has denied reports that it has frozen Mr. Quaye’s financial accounts.
Sources from the GRA confirm that discussions are underway for Mr. Quaye to settle all his tax obligations as a businessman.
Additionally, the GRA issued an import duty assessment for Mr. Quaye’s luxury Bugatti Chiron, which he has already paid.
This contradicts claims suggesting that the GRA has frozen Mr. Quaye’s accounts, a rumor the authority has refuted.
The GRA clarified that the assessment is part of a collaborative tax administration exercise, typically carried out periodically, especially for clients with a strong track record of tax compliance.
Following the assessment, Mr. Quaye will be expected to fulfill his tax obligations on imported goods, based on the GRA’s recommendation.
A source told Joy Business that the development is a positive step in strengthening the relationship between both parties, with the country aiming to boost tax revenue this year.
These developments come after Mr. Quaye’s extravagant 40th birthday celebration.
Mr. Quaye celebrated his milestone 40th birthday in grand fashion at the Black Star Square in Accra, with a star-studded event attended by high-profile local and international dignitaries, business leaders, and entertainment figures.
The lavish celebration, dubbed #RNAQ40, attracted some of Ghana’s most influential personalities, including Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong, whose presence highlighted Mr. Quaye’s strong connections to the country’s business and social elite.
Government officials, industry leaders, and prominent figures from the global business community were also in attendance, paying tribute to Mr. Quaye’s impressive career and accomplishments.
The celebration featured electrifying performances from Nigerian artist Davido, Ghana’s Sarkodie, and Stonebwoy, whose Afro-dancehall energy kept the crowd dancing all night.
