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Reverend Ammishaddai Owusu-Amoah, the Commissioner General, has made a resolute statement regarding the authority's uncompromising stance on taxpayer compliance. He emphasized the GRA's intent to employ all legal means, including the possibility of liquidating companies, to enforce tax obligations and ensure adherence to the law.
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Reverend Owusu-Amoah underscored the GRA's authority to initiate the liquidation process for companies in prolonged tax default and financial incapacity to settle their liabilities. While asserting the GRA's dedication to implementing compliance measures specified by the law, he also emphasized that the GRA's objective is not to undermine businesses but to effectively apply necessary measures to establish compliance. He cautioned taxpayers against presuming themselves exempt from compliance, regardless of their size or standing.
This bold reaffirmation comes in the wake of the decision to liquidate the United Steel Company to address the company’s outstanding tax obligations. The company, subsequently sold to B5Plus, had accrued substantial financial distress, with reported liabilities totaling ₵149 million in principal tax liabilities, along with penalties exceeding ₵400 million.
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Reverend Owusu-Amoah's stern warning made it clear that no company, irrespective of its size, is immune to potential liquidation under circumstances necessitating such action. Revealing that several companies are currently under the scrutiny of potential liquidation, he counseled businesses facing closure due to tax default to take immediate steps to settle their outstanding tax arrears.
The GRA's dedicated assertion to enforce tax compliance reflects the authorities' unwavering commitment to upholding fiscal responsibility and strengthening the nation's revenue management. It also underscores the importance of taxpayer accountability and the consequential implications for non-compliance with tax regulations.
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This is to serve as a reminder to businesses and taxpayers alike about the imperative of timely and accurate fulfillment of tax obligations. The GRA’s proactive approach serves as a testament to its commitment to fostering a fair and equitable tax environment, emphasizing the broader imperative of tax compliance for sustainable economic development.
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