Richard Nii Armah Quaye, the founder of Bills Micro-Credit, is currently undergoing a personal income tax assessment by the Ghana Revenue Authority (GRA).
The assessment is related to unpaid personal income tax, though the exact amount has not yet been disclosed.
This process is part of the GRA’s standard regulatory procedures to ensure that the entrepreneur fulfills his tax obligations.
Official sources have clarified that Richard Nii Armah Quaye’s bank accounts have not been frozen, despite rumors circulating on social media.
The tax assessment follows the business mogul’s highly publicized 40th birthday celebration, which attracted considerable attention on social media.
However, it remains unclear whether the decision to investigate Richard Nii Armah Quaye was made before or after the extravagant event.
The entrepreneur, who is reportedly the owner of around 29 companies, is cooperating with the authorities to resolve the matter.
Richard Quaye, the owner of several microfinance institutions that support numerous businesses across Ghana, has yet to comment publicly on the ongoing tax assessment.
