The Commissioner-General of the Ghana Revenue Authority (GRA), Anthony Kwasi Sarpong, has assured that cryptocurrency traders in Ghana will not be able to evade taxes as the authority prepares to roll out new technology to monitor digital asset transactions.

Speaking on Joy News’ PM Express Business Edition, Mr. Sarpong revealed that the GRA is developing systems capable of capturing gains from crypto trading and other online transactions.

“Cryptocurrency is an evolving and fast-growing market. Today, many people are making money from it. Our laws are catching up, and we are working with the Securities and Exchange Commission and the Bank of Ghana to regulate the space. But in terms of tax laws, if you make a profit or gain, you are supposed to pay tax,” he said.

According to Mr. Sarpong, the new technology will enable the GRA to bring cryptocurrency accounts under scrutiny, ensuring traders are brought into the tax net.

“The system we are deploying will make it possible to monitor all crypto accounts and work with the individuals involved to ensure compliance,” he stated.

He emphasized that the initiative is part of efforts to align Ghana’s tax system with the realities of the digital economy.

“Digitisation and the digital economy are here to stay. The taxpayer of the future is digital. That’s why GRA is preparing now, to remain effective in revenue mobilization,” he added.

The Commissioner-General explained that the focus on crypto forms part of a broader strategy to close loopholes in online transactions. Existing rules, he noted, already provide for taxing digital business activities.

“For example, VAT applies whether you purchase in a physical shop or online. With the technology we are deploying, we will collect VAT and other applicable taxes at the point of payment, eliminating the challenge of tracing online transactions,” he explained.

He disclosed that the system is expected to go live in September, with a pilot phase by the end of the year before full-scale implementation.

Mr. Sarpong stressed that the government’s priority is not to impose new taxes but to enforce existing ones more effectively.

“The policy of President Mahama and the Finance Minister is to avoid introducing excessive new taxes. Our current tax laws already provide sufficient measures which, once implemented, will help deepen and expand the tax net,” he said.