GRA Arrests Bills Microfinance Founder Over Tax Evasion

The Ghana Revenue Authority (GRA) has arrested the founder and CEO of Bills Microfinance, citing allegations of tax evasion and financial misconduct. The arrest, which took place following an extensive investigation, is part of GRA’s ongoing efforts to crack down on businesses failing to comply with tax regulations.

According to sources within the GRA’s Compliance and Enforcement Unit, the microfinance company had been flagged for significant tax discrepancies and non-payment of statutory obligations over an extended period. The authorities moved swiftly to apprehend the founder after multiple attempts to recover the owed taxes reportedly failed.

The arrest underscores the government’s zero-tolerance policy on tax evasion, with officials reiterating their commitment to ensuring financial institutions operate within legal frameworks. The GRA has warned that more enforcement actions will follow for businesses that fail to meet their tax obligations.

Further investigations are expected to determine the full extent of the financial violations and the potential legal consequences for the Bills Microfinance founder.