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Reports making headlines indicate that business mogul Richard Nii Armah Quaye bank accounts have been frozen.
It is alleged that the Ghana Revenue Authority (GRA) has frozen his accounts over unpaid outstanding personal income tax.
The High Street Journal reported that Amarh-Quaye, who is reported to own 29 different companies, is facing discrepancies in his tax filings.
Reports indicated tax filed by the Founder of Bills Micro-Credit is not equilibrium to what he was required to pay.
This news came when the businessman held a lavish 40th birthday at the Independent Square. It is alleged that the cost of the birthday celebration was estimated at $2 million.
Citinewsroom reported that the Board Chairman of Bills Micro-Credit is facing personal income tax assessment by the Ghana Revenue Authority (GRA).
According to Citi Business News, import duty of one of the cars of the business mogul was levied, however the issue was later resolved.
Meanwhile, Bills Micro Credit Limited has clarified Richard Nii Armah Quaye is the Board Chairman and Founder of the company not the Chief Executive Officer (CEO) as it was earlier reported.
A statement signed by Bills Micro Credit Limited management said “Bills Micro Credit Limited wishes to unequivocally state that the company, as a distinct legal entity, operates independently from the personal acquisitions, financial decisions, and activities of its Board Chairman, Richard Nii Armah Quaye.”
The statement added that “We emphasize that Richard Nii Armah Quaye is not the CEO of Bills Micro Credit Limited. Romeo-Richlove Kweku Seshie is the Chief Executive Officer, and the company has a management team overseeing all operational and financial matters. Recent public discussions have linked Mr. Quaye’s personal affairs, including his birthday celebration, to Bills Micro Credit Limited.”
“While the company extends its well wishes to him as its FOUNDER, CHAIRMAN, AND MAJORITY SHAREHOLDER, we categorically affirm that Bills Micro Credit Limited has not funded, sponsored, or facilitated any of his personal events or acquisitions. Bills Micro Credit imited remains committed toupholding the highest standards of corperate governance, transparency, independence and financial integrity. Any actions or transactions undertaken by Mr. Quaye in his personal capacity are entirely separate from the operations, financial dealings, and obligations of the company. We appreciate the continued trust and support of our clients, partners, and stakeholders.” The statement added.
Source: Elvisanokyenews.net
