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08.05.2008 Business & Finance

Takoradi VAT Moves To Recover Debt

By Godfrey K.Nyanney, Takoradi - newtimesonline.com

THE Takoradi VAT office on Tuesday embarked on its first Distress Action this year to recover a total debt of GH¢251,037.36 from 19 recalcitrant debtors in the Sekondi-Takoradi metropolis, Tarkwa and its environs.

There are 10 debtors in the Sekondi-Takoradi metropolis who are owing a total of GH¢30,867.43 and nine debtors in Tarkwa and its environs who also owe a total debts of GH¢221,037.36.

Agnes A. Adu-Boateng, acting regional head of Takoradi local VAT office made this known at a press briefing at Takoradi at the weekend.

She explained that the debts being pursued through distress action arose from under declared taxes discovered through audit actions, unpaid returns, penalties for delayed filling of returns and interests on unpaid debts.

Mrs Adu-Boateng indicated that before the VAT Service embarked on the distress action, it took great pains to persuade the debtors to pay up through formal and informal notice visits by debt collection officers and serving of final demand notices.

She advised traders to submit their monthly returns in time to avoid interests and penalties.

Meanwhile, the VAT office through its distress action exercise has closed down two business houses in Takoradi for owing the VAT office a total of GH¢15,543.43.

They are Sidclar Limited, an aluminum products manufacturer company which owed GH¢388.37 and Portal Limited, a furniture manufacturing company which also owes GH¢15,155.06.

The debts have been outstanding since December last year.

If they fail to pay their debts within 14 days from May 6, their assets would be confiscated by the VAT office to be sold and the proceeds used to defray the debts as well as the cost of the distress action, Mrs Adu-Boateng said.

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