The VAT Service Secretariat has so far recovered about 11 billion cedis out of the total debt of 20 billion cedis owed it through distress actions it took to meet its tax collection target set for the year.
Following the distress actions, many businesses and companies had been closed down in some parts of the country in an effort to collect and recover the total debts owed according to Mr Henry Sam, Head of the Enforcement Team.
Three Accra Companies – the Mobile World, dealers in mobile phones owed 511.4 million cedis; Research and Marketing Services Ghana Limited owed 65.1 million cedis and Sunspot Hotel, which owed 95 million cedis - were all closed down for defaulting in the payment of the tax.
When the Enforcement Team got to the Sunspot Hotel at the Airport Residential area, things took a different turn when some school children that had paid to use the poolside, demanded a refund of their money creating confusion between the workers and the children at the premises.
Other companies which defaulted included GIANT International Ghana Limited in Accra, which owed 83.7 million and Compudist Ghana Limited 62.3 million cedis.
Henry Sam said the defaulting period ranged from between six months and two years and the amount involved depended on the returns filed by the various companies.
He said the distress action came as a last resort after all means to collect the debt had failed. "Even with that we issue them with a final demand notice before the action", he said.
He urged all businesses registered with VAT to treat the Service with respect and to act within the time frame to avoid being embarrassed through the distress action.
In all the VAT Service undertook 229 distress actions which yielded positive results.
Source GNA
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
Latest Stories
-
CHAN 2024Q: Ghana’s Black Galaxies held by Nigeria in first-leg tie
19 minutes -
Dr Nduom hopeful defunct GN bank will be restored under Mahama administration
53 minutes -
Bridget Bonnie celebrates NDC Victory, champions hope for women and youth
1 hour -
Shamima Muslim urges youth to lead Ghana’s renewal at 18Plus4NDC anniversary
2 hours -
Akufo-Addo condemns post-election violence, blames NDC
2 hours -
DAMC, Free Food Company, to distribute 10,000 packs of food to street kids
3 hours -
Kwame Boafo Akuffo: Court ruling on re-collation flawed
4 hours -
Samuel Yaw Adusei: The strategist behind NDC’s electoral security in Ashanti region
4 hours -
I’m confident posterity will judge my performance well – Akufo-Addo
4 hours -
Syria’s minorities seek security as country charts new future
5 hours -
Prof. Nana Aba Appiah Amfo re-appointed as Vice-Chancellor of the University of Ghana
5 hours -
German police probe market attack security and warnings
5 hours -
Grief and anger in Magdeburg after Christmas market attack
5 hours -
Baltasar Coin becomes first Ghanaian meme coin to hit DEX Screener at $100K market cap
6 hours -
EC blames re-collation of disputed results on widespread lawlessness by party supporters
6 hours