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The Ghana Revenue Authority (GRA) has commenced an assessment of the personal income tax records of Richard Nii Armah Quaye, founder and board chairman of Bills Micro-Credit, Citi Business News has learnt.
The review is aimed at ensuring compliance with tax obligations, though the exact amount under scrutiny has not been disclosed.
Amid circulating reports that Quaye’s bank accounts have been frozen, official sources have debunked the claims, stating that no such action has been taken. Additionally, an import duty dispute related to one of his vehicles has already been settled.
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This development comes just days after Quaye’s high-profile 40th birthday celebration, which attracted significant attention on social media.
However, it remains unclear whether the tax probe was initiated before or after the event.
In response to growing public discourse, Bills Micro-Credit Limited has issued a statement emphasising its financial independence from Quaye’s personal dealings.
The company clarified that it operates as a separate legal entity and does not fund or facilitate any of his personal expenses. It also reiterated that while Quaye is the founder and majority shareholder, he is not the CEO of Bills Micro-Credit.
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