The Ghana Revenue Authority (GRA) is currently conducting a personal income tax assessment on Richard Nii-Armah Quaye, founder of Bills Micro-Credit.
According to multiple media reports on March 24, 2025, the review focuses on potential discrepancies between Richard Quaye's filed taxes and his expected tax obligations.
While the specific amount under assessment remains undisclosed, sources confirm that this forms part of routine compliance checks by the tax authority.
Contrary to social media speculation, officials confirm that Richard Quaye's bank accounts have not been frozen during this process.
The entrepreneur, who reportedly owns about 29 companies, is cooperating with authorities to resolve the matter.
The assessment follows the GRA's increased focus on ensuring tax compliance among business leaders and corporations.
Such reviews typically remain confidential unless escalated to enforcement stages.
Richard Quaye, whose microfinance institution serves numerous Ghanaian businesses, has not publicly commented on the ongoing assessment.
ID/MA
Meanwhile, watch some videos from the 40th birthday bash of Richard Nii-Armah Quaye below:
The man of the moment!#RNAQ40 pic.twitter.com/bb7dgOY7hh
— Dziedzorm💚 (@SSDziedzorm) March 22, 2025
