Accra, July 9, GNA - Manual operations at the Internal Revenue Service (IRS) is the cause of the slow process of crediting accounts of businesses with the withholding tax that they pay during transactions, the Commissioner of the Service, Major Daniel Sowa Ablorh-Quarcoo, has stated.

Answering questions from members of the Association of Ghana Industries (AGI) at their monthly luncheon in Accra, Major Ablorh-Quarcoo noted that because the operations of the Service had not been computerized yet, it took slightly longer for staff to vet all documents to establish the correct account position of businesses. He said that instructions had been issued for clearance certificates to be released in time to enable companies to know their true tax positions.

The monthly luncheon was instituted to offer a platform for members of the AGI to network among themselves and stakeholders to discuss issues pertaining to industrial development. Major Ablorh-Quarcoo who gave his views on "The Re-denomination and the Implications for IRS Operations," said the Service had taken steps to reflect the re-denomination to establish the tax positions of companies.

He said the files of tax payers were closed at the end of June this year and their balance converted to the new currency. However, the Service would accept cheques in the old format during the transitional period, he said. Mr Tony Oteng-Gyasi, President of AGI, said it was high time tax laws were challenged in the courts.

He explained that this must not to be seen as an affront to the tax authorities but rather a measure to test the certainty of the country's tax laws.

According to him most businessmen did not resort to court to solve their tax problems because of the slow legal process. Mr Oteng-Gyasi urged the judiciary to set up fast-track tax courts a to meet the needs of the business community.