Business News of Tuesday, 12 December 2006

Source: GNA

IRS closes down five establishments

Kumasi, Dec 12, GNA - The National Revenue Mobilisation Taskforce of the Internal Revenue Service (IRS) on Monday embarked on a special exercise in the Kumasi metropolis to retrieve outstanding debts owed the Service by some firms and enterprises.

During the five-hour exercise, the premises of five firms, which had defaulted in the payment of arrears in taxes, were sealed off. The affected firms most of which had since 2000 not paid their arrears in taxes include the Central International School (CIS) which owes 139 million cedis, Abebrese and Associates Filling Station, 39 million cedis and Ampomah Photo Laboratory Enterprise, 146.5 million cedis.

The rests are Akoneaba Tyre Dealers Enterprise 64 million cedis, and Gyimah and Brefo Soliciting Firm, which owes 136 million cedis. Briefing newsmen on the exercise, Mr Ben Sam, a Senior Tax Official of the IRS and leader of the task force, decried the impunity with which most firms and companies refused to honour their tax obligation and said this was depriving government of the needed funds to embark on development projects.

=93It is very ironical that the very people who blame government for being apathetic towards the nation's socio-economic development are the same people who for strange reasons fail to honour their tax obligation=94, he remarked.

Mr Sam was not happy, for instance that in the Ashanti region alone, numerous companies owe the IRS a substantial amount to the tune of about 10 billion cedis and said the Service 93would leave no stone unturned to retrieve the said amounts=94. He announced that the special exercise which is part of a nationwide campaign would be sustained to ensure that the citizenry pay their taxes promptly.