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(1) The Minister shall set aside an amount of not more than six percent of the total revenue collected under this Act and any other enactment administered by the Commissioner-General, in an account designated as the “Ghana Revenue Authority General Refund Account.”.

(2) The Ghana Revenue Authority General Refund Account shall be used by the Commissioner-General to make payments for

(a) refunds due under this Act; and

(b) refunds due under any other tax law.

(3) Where at the end of a calendar year there is an amount outstanding as credit in the Ghana Revenue Authority General Refund Account after refunds certified by the Commissioner-General have been paid, the outstanding amount shall be paid into the Consolidated Fund by the Commissioner-General in accordance with the Financial Administration Act, 2003 (Act 654) and the Financial Administration Regulations,

2004 (L l.1802).