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Business News of Monday, 21 January 2013

Source: GBC

GRA Shuts Down Two Companies

The Ghana Revenue Authority (GRA) says it will intensify its distress action to recover monies owed it by recalcitrant corporate entities.

Chief Revenue Officer GRA, Mr Samuel Bentil, said this after a team of officials from the Large Tax Payer Office sealed off the offices of two entities, Glade Digital and Blackgold Limited for non-payment of Valued Added Tax (VAT).

The two entities together owed the GRA more than GH¢20,000 in taxes.

Three other corporate entities, Best Time Press, Quickfit Service Centre and Rockfield Limited, which the team visited to enforce the action, promptly issued cheques to settle their indebtedness to avoid their offices being closed.

The five companies together owed more than GH¢60,000 in taxes.

Mr Bentil said the GRA would stay execution of the distress action pending final payment.

He said some of the companies consistently fails to pay the monies owed despite numerous reminders and appeals and this had led to the distress action being mounted in line with the Value Added Tax Act.

Mr Bentil explained that the action was the last tool of mobilisation that the GRA could use to collect monies owed to it, adding that the companies would be given an ultimatum to pay and if they failed the Authority would take custody of their assets and sell them to defray the taxes.

Mr Bentil said the exercise was aimed at ensuring that businesses comply with the law and honour their tax obligations promptly, and urged the business community and other firms who find themselves in such similar situation to quickly settle their tax indebtedness.

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