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25.01.2006 Business & Finance

VAT Service threatens to close down Choice FM

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Accra, Jan. 25, GNA - The Value Added Tax (VAT) Service on Wednesday threatened to close down Choice FM, an Accra-based radio station, for failing to pay 121 million cedis as its VAT returns from January 2002 to December 2004.

Mr Kwesi Ackaah, Deputy Head of the Enforcement and Debt Management Unit, VAT Headquarters, who led a taskforce to serve a warrant of closure of the station, told journalists that all attempts to collect the debt from Choice FM had failed.

He alleged that the station issued a cheque for an amount of 10 million cedis as part payment, after the radio station had agreed to pay its debt in five monthly instalments but the cheque was dishonoured. The Management of Choice FM asked for a week's grace period, from the VAT officials to pay up.