TaxLawGHby MSL Business School
MSL Business SchoolAnnual revenue intelligence
Ghana Tax Revenue Performance 2022
What Ghana collected, how the result compared with the annual target, which tax streams moved the outturn and what the official evidence can safely support.
Analysed and explained by MSL Business School through TaxLawGH.
2022 answer in brief
Collections missed the original Budget target but exceeded the lower mid-year target.
Ghana collected GHS 75.706 billion in tax revenue, 5.7% below the original GHS 80.306 billion Budget target. The same outturn was 5.3% above the revised GHS 71.95 billion target.
Adding the separately presented energy-sector levies produces a grand total of GHS 79.388 billion against a grand-total target of GHS 83.875 billion.
Category performance
The headline was not evenly distributed across the tax base.
The category values reproduce the Ministry's annual schedule. Hover-free cards keep the result legible on touchscreens and small screens.
Target: GHS 35.26bn. Variance: GHS -922.38 million.
Target: GHS 24.427bn. Variance: GHS -5,320.81 million.
Target: GHS 20.619bn. Variance: GHS +1,643.88 million.
Detailed tax streams
Test the result line by line.
Values are GHS millions. The filters work without reloading the page. For 2023 and 2024, tax-type rows follow the report's detailed narrative sections because the appendix subrows or category labels are displaced.
26 tax streams shown.
| Tax stream | Actual | Target | Variance | Variance % |
|---|---|---|---|---|
| PAYEDomestic direct | 12,065.41 | 12,281.51 | -216.10 | -1.8% |
| Self-employed personal income taxDomestic direct | 659.17 | 1,362.05 | -702.88 | -51.6% |
| CompaniesDomestic direct | 17,650.36 | 18,035.58 | -385.22 | -2.1% |
| Other direct taxesDomestic direct | 317.30 | 499.66 | -182.36 | -36.5% |
| Mineral royaltiesDomestic direct | 1,796.19 | 1,677.85 | +118.34 | +7.1% |
| Airport TaxDomestic direct | 789.58 | 396.03 | +393.55 | +99.4% |
| National Fiscal Stabilisation LevyDomestic direct | 693.48 | 754.23 | -60.75 | -8.1% |
| Financial Sector Recovery LevyDomestic direct | 365.85 | 252.79 | +113.06 | +44.7% |
| Domestic VATDomestic indirect | 8,963.92 | 8,480.93 | +482.99 | +5.7% |
| Domestic exciseDomestic indirect | 604.82 | 670.88 | -66.06 | -9.8% |
| Domestic NHILDomestic indirect | 2,472.27 | 1,952.14 | +520.13 | +26.6% |
| Domestic GETFund LevyDomestic indirect | 2,472.27 | 1,952.14 | +520.13 | +26.6% |
| Communications Service TaxDomestic indirect | 532.29 | 651.74 | -119.45 | -18.3% |
| COVID-19 levy - flat rateDomestic indirect | 206.53 | 284.16 | -77.63 | -27.3% |
| COVID-19 levy - standard rateDomestic indirect | 972.92 | 469.27 | +503.65 | +107.3% |
| Electronic Transaction LevyDomestic indirect | 643.35 | 6,963.39 | -6,320.04 | -90.8% |
| Special Petroleum TaxDomestic indirect | 2,237.68 | 3,002.21 | -764.53 | -25.5% |
| Import duties and leviesCustoms | 10,139.39 | 9,029.97 | +1,109.42 | +12.3% |
| Import VATCustoms | 6,824.72 | 6,053.93 | +770.79 | +12.7% |
| Import NHILCustoms | 1,287.66 | 1,317.82 | -30.16 | -2.3% |
| Import GETFund LevyCustoms | 1,287.65 | 1,324.90 | -37.25 | -2.8% |
| Import COVID-19 levyCustoms | 536.45 | 388.13 | +148.32 | +38.2% |
| Petroleum taxesCustoms | 2,187.11 | 2,504.34 | -317.23 | -12.7% |
| Energy Debt Recovery LevyEnergy-sector levies | 2,269.64 | 2,739.05 | -469.41 | -17.1% |
| Energy Sector Recovery LevyEnergy-sector levies | 959.86 | 565.68 | +394.18 | +69.7% |
| Sanitation and Pollution LevyEnergy-sector levies | 452.01 | 264.40 | +187.61 | +71.0% |
Values are transcribed from the Ministry report and may not sum exactly because source narratives use rounded figures or present some combined collection points.
Growth and fiscal effort
Nominal growth and real growth tell different stories.
Change measured in current money values.
The report's inflation-adjusted growth measure.
Use the ratio definition stated for this edition; definitions are not fully consistent across all four reports.
TaxLawGH insights
What matters beyond the headline.
Two target baselines
The original Budget target was missed, while the lower mid-year target was exceeded. Both comparisons are necessary to understand the outturn.
Inflation changed the picture
Nominal revenue grew 31.8%, but the report records a 0.7% decline after its inflation adjustment.
E-Levy shortfall
Electronic Transaction Levy collections were GHS 643 million against a GHS 6.963 billion annual target, the largest individual shortfall in the schedule.
Customs held up
Customs was the only main category above its original annual target, offsetting part of the direct and domestic-indirect gaps.
Reading the evidence safely
Source definitions, rounding and discrepancies are part of the analysis.
Primary source
Start with the official Ministry report.
Annual Tax Revenue Performance Report: 2022
Prepared by the Revenue Policy Division of Ghana's Ministry of Finance. The report reviews the full calendar year's tax collections, annual targets, tax categories and selected policy developments.
Frequently asked questions
Ghana 2022 tax revenue questions
How much tax revenue did Ghana collect in 2022?
The Ministry of Finance reports GHS 75.706 billion in tax revenue for 2022, before the separately presented energy-sector levies.
Did Ghana meet the 2022 annual tax revenue target?
The outturn was 5.7% below the original annual target of GHS 80.306 billion.
What was the revised 2022 target?
The report gives a revised target of approximately GHS 71.95 billion. TaxLawGH keeps that comparison separate from the original Budget target.
How fast did Ghana's tax revenue grow in 2022?
The report records 31.8% nominal growth and -0.7% real growth.
Are energy-sector levies included in the GHS 75.706 billion headline?
No. The report adds separately presented energy-sector levies to reach a grand total of GHS 79.388 billion.
What source does TaxLawGH use?
This page is grounded in the Ministry of Finance Annual Tax Revenue Performance Report for 2022, including its detailed schedules and tax-type analysis.