The Ghana Revenue Authority (GRA) has launched an income tax assessment on businessman Richard Nii Armah Quaye, Chairman of microcredit firm BILLS, as part of its ongoing efforts to ensure tax compliance among high-net-worth individuals.

The assessment, according to sources at the GRA, is a routine audit aimed at verifying Mr. Quaye’s tax obligations. Contrary to some reports, the authority has denied freezing his financial accounts.

“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.

In addition to the income tax review, Mr. Quaye has undergone an import duty assessment on his luxury Bugatti Chiron, which he has since settled.

The GRA has clarified that such tax administration exercises are conducted periodically, especially for individuals and businesses with consistent tax payment records. Following the assessment, Mr. Quaye is expected to fulfill any outstanding tax obligations on imported goods as recommended by the authority.

The tax review comes in the wake of Mr. Quaye’s extravagant 40th birthday celebration at the Black Star Square in Accra. The high-profile event, dubbed #RNAQ40, attracted a host of influential personalities, including business moguls Dr. Osei Kwame Despite and Dr. Ernest Ofori Sarpong.

Government officials, industry leaders, and international business figures were also present to celebrate Mr. Quaye’s achievements.

Entertainment was a key highlight of the night, with electrifying performances from Nigerian superstar Davido, Ghana’s rap icon Sarkodie, and dancehall sensation Stonebwoy, who kept the audience on their feet.

While Mr. Quaye continues to enjoy the limelight, the GRA’s assessment signals the government’s broader efforts to enhance revenue collection through stricter tax compliance.