The Commissioner General of the Ghana Revenue Authority (GRA), Rev. Ammishaddai Owusu-Amoah, has emphatically asserted that the authority will employ all legal avenues, including the liquidation of companies, to enforce tax compliance.
He mentioned that the GRA possesses the authority to initiate proceedings for the liquidation of companies that are in default of tax payments and have been unable to settle their obligations for an extended period.
“Whatever compliance measures available in the law, GRA is ready to implement it to the latter, but we also want Ghanaians to know that we’re not in to collapse their companies. However we will do whatever necessary. Nobody should think they’re too big or too small to comply,” he warned.
Rev. Owusu-Amoah made these statements in an interview with Joy Business following the decision to liquidate United Steel Company as a means to settle the company’s outstanding tax obligations.
United Steel Company faced financial distress amounting to ₵149 million and owed significant tax liabilities, totaling over ₵400 million along with penalties. The company was subsequently sold to B5Plus.
Rev. Owusu-Amoah emphasized that no company, regardless of its size, is exempt from the possibility of liquidation if the situation demands it. He revealed that there are several other companies currently under consideration for liquidation.
Furthermore, he advised companies that have been shuttered due to tax default to take the necessary measures to clear their tax arrears.