TaxLawGHby MSL Business School
MSL Business SchoolAnnual revenue intelligence
Ghana Tax Revenue Performance 2023
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.
2023 answer in brief
Collections exceeded the original Budget target and the revised target.
Ghana collected GHS 113.066 billion in tax revenue, 6.7% above the GHS 105.999 billion annual target and approximately 3.5% above the revised GHS 109.19 billion target.
Adding the separately presented energy-sector levies produces a grand total of GHS 116.971 billion against a grand-total target of GHS 110.289 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 47.094bn. Variance: GHS +6,912.06 million.
Target: GHS 30.371bn. Variance: GHS -2,105 million.
Target: GHS 28.533bn. Variance: GHS +2,260.64 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.
23 tax streams shown.
| Tax stream | Actual | Target | Variance | Variance % |
|---|---|---|---|---|
| PAYEDomestic direct | 17,450 | 15,680.27 | +1,769.73 | +11.3% |
| Self-employed personal income taxDomestic direct | 937.23 | 856.09 | +81.14 | +9.5% |
| CompaniesDomestic direct | 29,260 | 23,947.40 | +5,312.60 | +22.2% |
| Other direct taxesDomestic direct | 369.53 | 591.85 | -222.32 | -37.6% |
| Mineral royaltiesDomestic direct | 2,770 | 2,547.10 | +222.90 | +8.8% |
| Airport TaxDomestic direct | 1,200 | 877.79 | +322.21 | +36.7% |
| Growth and Sustainability LevyDomestic direct | 1,380 | 2,216.39 | -836.39 | -37.7% |
| Financial Sector Recovery LevyDomestic direct | 645.38 | 377.23 | +268.15 | +71.1% |
| Domestic VATDomestic indirect | 14,520 | 15,611.81 | -1,091.81 | -7.0% |
| Domestic exciseDomestic indirect | 900.65 | 1,186.56 | -285.91 | -24.1% |
| Domestic NHILDomestic indirect | 3,600 | 3,145.97 | +454.03 | +14.4% |
| Domestic GETFund LevyDomestic indirect | 3,600 | 3,145.97 | +454.03 | +14.4% |
| Communications Service TaxDomestic indirect | 663.84 | 782.29 | -118.45 | -15.1% |
| COVID-19 Health Recovery Levy - all collection pointsDomestic indirect | 2,180 | 2,530 | -350 | -13.8% |
| Special Petroleum TaxDomestic indirect | 2,320 | 2,591.28 | -271.28 | -10.5% |
| Import duties and leviesCustoms | 13,940 | 14,015.79 | -75.79 | -0.5% |
| Import VATCustoms | 10,460 | 8,103.20 | +2,356.80 | +29.1% |
| Import NHILCustoms | 1,661.44 | 1,498.39 | +163.05 | +10.9% |
| Import GETFund LevyCustoms | 1,661.34 | 1,498.39 | +162.95 | +10.9% |
| Petroleum taxesCustoms | 2,360 | 2,556.09 | -196.09 | -7.7% |
| Energy Debt Recovery LevyEnergy-sector levies | 2,435.24 | 2,658.84 | -223.60 | -8.4% |
| Energy Sector Recovery LevyEnergy-sector levies | 998.23 | 1,108.71 | -110.48 | -10.0% |
| Sanitation and Pollution LevyEnergy-sector levies | 470.88 | 522.25 | -51.37 | -9.8% |
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.
Broad headline outperformance
The outturn exceeded both the original annual target and the higher revised target.
Strong real growth
Nominal growth was 49.3% and the report's inflation-adjusted growth measure was 7.6%.
Direct taxes led
Domestic direct taxes exceeded the annual target by GHS 6.912 billion, the largest category contribution to the surplus.
Domestic indirect lagged
Domestic indirect taxes were GHS 2.105 billion below the annual target even as the total result was above target.
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: 2023
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 2023 tax revenue questions
How much tax revenue did Ghana collect in 2023?
The Ministry of Finance reports GHS 113.066 billion in tax revenue for 2023, before the separately presented energy-sector levies.
Did Ghana meet the 2023 annual tax revenue target?
The outturn was 6.7% above the original annual target of GHS 105.999 billion.
What was the revised 2023 target?
The report gives a revised target of approximately GHS 109.19 billion. TaxLawGH keeps that comparison separate from the original Budget target.
How fast did Ghana's tax revenue grow in 2023?
The report records 49.3% nominal growth and 7.6% real growth.
Are energy-sector levies included in the GHS 113.066 billion headline?
No. The report adds separately presented energy-sector levies to reach a grand total of GHS 116.971 billion.
What source does TaxLawGH use?
This page is grounded in the Ministry of Finance Annual Tax Revenue Performance Report for 2023, including its detailed schedules and tax-type analysis.