Aluminium firm Pasico locked up over nonpayment of over GHC4m tax

The Ghana Revenue Authority (GRA) has locked up Pasico Ghana for nonpayment of taxes to the tune of about GHC4.8 million.

The company is known for the production of aluminium frames and Louvre blades.

According to the GRA, the company which has been in existence since 1948 has failed to honor its tax obligations since 2015.

The taxes comprise of VAT and Pay as You Earn.

According to the authority, all efforts to retrieve the funds have been unsuccessful leading to the shutdown.

The about 100 staff of the company were all instructed to vacate the premises as their offices were locked in the early hours of Thursday, October 24, 2019.

Management of Pasico have been given sometime to settle their indebtedness to the GRA or risk a confiscation of properties by government.

The move by the GRA is part of efforts to ensure tax compliance to boost state revenue.