The Ghana Revenue Authority (GRA) is undertaking an Income Tax Assessment on business mogul and Chairman of Micro Credit firm BILLS, Richard Nii Armah Quaye.

The process is part of an audit system by the GRA to ascertain the level of tax compliance by the businessman. The authority has however denied freezing the financial accounts of Mr Quaye.

Sources at the GRA say discussions have started for Mr Quaye to pay all tax obligations as a businessman.

In addition, the GRA also issued an assessment of import duty on Mr Quaye's luxurious Bugatti Chiron which he paid.

This is contrary to some reports suggesting that the authority has frozen the accounts of the entrepreneur, a claim denied by sources at the GRA.

According to the GRA, it is a collaborative tax administration exercise undertaken periodically, especially with clients who have good records of tax payments.

Mr Quaye would be required to honour tax obligations on imported goods after the assessment upon recommendation by the GRA.

“The development is positive for the relationship of both parties as the country is hoping to increase tax revenue this year”, a source told Joy Business.

These developments are emerging after a lavish birthday organised by Mr Quaye to mark his 40th birthday.

Mr Quaye marks 40^th birthday

Mr Quaye celebrated his 40th birthday in grand style at the Black Star Square in Accra, with a star-studded event attended by top local and international dignitaries, business elites, and entertainment heavyweights.

The extravagant celebration dubbed #RNAQ40 brought together some of Ghana’s most influential personalities, including Dr Osei Kwame Despite and Dr Ernest Ofori Sarpong, whose presence underscored the celebrant’s deep ties to the country’s business and social elite.

Also in attendance were government officials, industry leaders, and high-profile figures from the international business community, all gathering to honour Mr Quaye’s remarkable journey and achievements over the years.

Nigeria's Davido and Ghana's Sarkodie delivered a thrilling performance, while Stonebwoy’s Afro-dancehall energy kept the audience on their feet.