The Ghana Revenue Authority says it has taken action to distress Hippo General and Haulage Transportation company for owing tax to the tune of over GH₵1.3 billion.
Personnel of the tax agency aided by some security officers on Friday, stormed the premises of the company to effect the action.
Financial distress is a condition in which a company or individual cannot generate revenue or income because it is unable to meet or cannot pay its financial obligations. This is generally due to high fixed costs, illiquid assets, or revenues sensitive to economic downturns.
The GRA posted on Facebook, Monday, December 23 to announce the decision to close down the company.
Financial distress is a condition in which a company or individual cannot generate revenue or income because it is unable to meet or cannot pay its financial obligations. This is generally due to high fixed costs, illiquid assets, or revenues sensitive to economic downturns.
The GRA posted on Facebook, Monday, December 23 to announce the decision to close down the company.
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.
Latest Stories
-
Power crisis looms as government needs $90m to avert ‘dumsor’ – GRIDCo report
4 hours -
Barcelona defeat Athletic without Olmo to reach Spanish Super Cup final
4 hours -
Theodore Dzeble: The return of another John
5 hours -
This is your moment in history, my dear friend’s wife
5 hours -
Call me ‘Ɔsahene’ in Parliament – Afenyo-Markin announces new title to colleague MPs
5 hours -
A letter to President John Mahama – A friend you need
5 hours -
Maintain E-Levy to support Women’s Development Bank, SMEs – GUTA tells Mahama
6 hours -
Nominations open for 2025 JoyNews Impact Makers: Celebrating ordinary people, making extraordinary impact
6 hours -
Tanko Foundation rescues 3 nursing mothers detained over medical bills
6 hours -
Cyber troopers: The ‘news’ handles spreading disinformation, hate speech on social media
6 hours -
Russia hopeful of improved relations with Mahama’s administration – Dr John Aggrey
6 hours -
Ablekuma North: Nothing untoward happened, there is no illegality – Haruna Mohammed
7 hours -
Mahama can run Ghana with just 30 ministers – Prof. Avea Nsoh
7 hours -
Hearts midfielder Saani Mohammed joins Danish side AC Horsens
7 hours -
West Ham to appoint Potter after sacking Lopetegui
8 hours