TaxLawGHby MSL Business School
MSL Business SchoolAnnual revenue intelligence
Ghana Tax Revenue Performance 2024
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.
2024 answer in brief
Collections exceeded the reconciled Budget target, but the official report contains internal table and wording errors.
The report's appendix records GHS 153.571 billion in tax revenue against a GHS 145.992 billion Budget target, an outperformance of 5.2%. The executive summary prints GHS 143.0 billion as the target, which cannot produce the stated 5.2% result.
Adding the separately presented energy-sector levies produces a grand total of GHS 158.138 billion against a grand-total target of GHS 151.174 billion.
Category evidence
The 2024 tax-type sections are more reliable than the displaced appendix labels.
The report's category schedule contains internal presentation errors. TaxLawGH therefore does not create false category totals from displaced labels. The verified tax-type table below uses the report's detailed narrative values, while the headline total uses the appendix figure that reconciles to the stated 5.2% result.
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 | 22,196 | 21,641 | +555 | +2.6% |
| Self-employed personal income taxDomestic direct | 1,430 | 1,610 | -180 | -11.2% |
| CompaniesDomestic direct | 39,190 | 28,590 | +10,600 | +37.1% |
| Other direct taxesDomestic direct | 659.13 | 653.50 | +5.63 | +0.9% |
| Mineral royaltiesDomestic direct | 4,900 | 3,060 | +1,840 | +60.1% |
| Airport TaxDomestic direct | 1,610 | 1,360 | +250 | +18.4% |
| Growth and Sustainability LevyDomestic direct | 2,380 | 1,180 | +1,200 | +101.7% |
| Financial Sector Recovery LevyDomestic direct | 862.20 | 448.31 | +413.89 | +92.3% |
| Domestic VATDomestic indirect | 17,140 | 24,130 | -6,990 | -29.0% |
| Domestic exciseDomestic indirect | 1,300 | 2,430 | -1,130 | -46.5% |
| Domestic NHILDomestic indirect | 4,580 | 4,860 | -280 | -5.8% |
| Domestic GETFund LevyDomestic indirect | 4,580 | 4,860 | -280 | -5.8% |
| Communications Service TaxDomestic indirect | 823.17 | 1,520 | -696.83 | -45.8% |
| COVID-19 Health Recovery Levy - all collection pointsDomestic indirect | 2,940 | 3,170 | -230 | -7.3% |
| Special Petroleum TaxDomestic indirect | 2,700 | 3,870 | -1,170 | -30.2% |
| Import duties and levies (including import excise)Customs | 20,260 | 18,500 | +1,760 | +9.5% |
| Import VATCustoms | 16,080 | 12,890 | +3,190 | +24.7% |
| Import NHILCustoms | 2,530 | 3,070 | -540 | -17.6% |
| Import GETFund LevyCustoms | 2,530 | 3,070 | -540 | -17.6% |
| Petroleum taxesCustoms | 2,810 | 2,950 | -140 | -4.7% |
| Energy Debt Recovery LevyEnergy-sector levies | 2,850 | 3,870 | -1,020 | -26.4% |
| Energy Sector Recovery LevyEnergy-sector levies | 1,160 | 858.71 | +301.29 | +35.1% |
| Sanitation and Pollution LevyEnergy-sector levies | 551.38 | 448.27 | +103.11 | +23.0% |
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.
Headline target reconciled
The appendix target of GHS 145.992 billion reconciles to the reported 5.2% outperformance; the executive summary's GHS 143.0 billion does not.
Customs accelerated
The report records 47.0% nominal growth in Customs revenue and identifies Customs as a major driver of overall growth.
Domestic VAT underperformed
Domestic VAT totalled GHS 17.14 billion, 29.0% below its GHS 24.13 billion target.
Real growth strengthened
The report records 10.5% real revenue growth after average inflation of 22.9%.
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: 2024
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 2024 tax revenue questions
How much tax revenue did Ghana collect in 2024?
The Ministry of Finance reports GHS 153.571 billion in tax revenue for 2024, before the separately presented energy-sector levies.
Did Ghana meet the 2024 annual tax revenue target?
The outturn was 5.2% above the original annual target of GHS 145.992 billion.
How fast did Ghana's tax revenue grow in 2024?
The report records 35.6% nominal growth and 10.5% real growth.
Are energy-sector levies included in the GHS 153.571 billion headline?
No. The report adds separately presented energy-sector levies to reach a grand total of GHS 158.138 billion.
What source does TaxLawGH use?
This page is grounded in the Ministry of Finance Annual Tax Revenue Performance Report for 2024, including its detailed schedules and tax-type analysis.
Why does TaxLawGH use GHS 145.992 billion as the 2024 target?
That is the appendix target which reconciles to the report's stated 5.2% outperformance. The GHS 143.0 billion figure in the executive summary is internally inconsistent.