Audio By Carbonatix
The Debt Enforcement Unit of the Ghana Revenue Authority (GRA) has shut down Pasico Ghana for owing GH¢4.8 million in Value Added Tax (VAT).
Workers of the company were ordered to pack out as the entire premises was sealed off.
Head of the Tax enforcement team, Nathaniel Tetteh, told the media it is possible properties of the company could be auctioned should management fail to pay in seven days.
The distress action comes in handy as the GRA races to meet its revenue target for the year 2019. As at September 2019, the Authority had collected GH¢32 million.
Much as the GRA follows due procedure to recover such monies, it has been alleged that some of the companies deliberately keep the money and invest in governor papers for up to 90 days to be able to make some returns on what should otherwise have come to the state.
If the GRA meets the revenue target for this year, this will be the first time the government has met its revenue target in three years.
For the past three years, the government has struggled to meet its domestic revenue target. This has caused the government to cut down on planned expenditure such as spending on infrastructure and other key areas.
The last time the Ghana Revenue Authority met its domestic revenue target was in 2015 where it exceeded its target by more than GH¢600 million.
The distress action comes in handy as the GRA races to meet its revenue target for the year 2019. As at September 2019, the Authority had collected GH¢32 million.
Much as the GRA follows due procedure to recover such monies, it has been alleged that some of the companies deliberately keep the money and invest in governor papers for up to 90 days to be able to make some returns on what should otherwise have come to the state.
If the GRA meets the revenue target for this year, this will be the first time the government has met its revenue target in three years.
For the past three years, the government has struggled to meet its domestic revenue target. This has caused the government to cut down on planned expenditure such as spending on infrastructure and other key areas.
The last time the Ghana Revenue Authority met its domestic revenue target was in 2015 where it exceeded its target by more than GH¢600 million.DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
NYA, French Embassy deepen partnership to boost youth skills development and inclusion
3 minutes -
Ghana in ‘huge crisis’ over addiction care as specialist shortage worsens – Dr Owusu-Antwi
6 minutes -
US and Iran pause strikes for third night to make space for talks, US ambassador says
6 minutes -
When the call sounds genuine: How Mobile Money fraud continues to target Ghanaians
9 minutes -
Deadly Doses II: JoyNews investigation uncovers disturbing shift in Ghana’s growing drug crisis
34 minutes -
NACOC urges public support in fight against illicit drug trafficking
56 minutes -
Communiqué: Digital Economy Forum calls for urgent action to protect public trust in Ghana’s cash-lite economy
57 minutes -
2026 Commonwealth Games: Azamati through to 100m semis, Botsio out
58 minutes -
Gov’t dismisses claims over viral Mahama video, says remarks were taken out of context
58 minutes -
Asiedu Nketia and Ato Forson in dead heat for NDC leadership ahead of 2028 – Poll
1 hour -
Wings Over the Sahel: Why Ghana and West Africa must build a drone-ready security doctrine
1 hour -
42 percent of Ghanaians disagree with Abu Trica extradition decision — GlobalInfo Analytics poll
1 hour -
2026 Commonwealth Games: Saminu books semifinal spot in men’s 100m
1 hour -
60% of Ghanaians say country is on right path, 72% approve Mahama’s performance – Survey
1 hour -
Tears at the end, Greatness Forever: Messi’s “final” World Cup
2 hours