TaxLawGHby MSL Business School
MSL Business SchoolAnnual revenue intelligence
Ghana Tax Revenue Performance 2025
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.
2025 answer in brief
Revenue grew, but the full-year target was not met.
Ghana collected GHS 181.692 billion in tax revenue against a GHS 189.184 billion target. The Ministry reports a GHS 7.493 billion shortfall, equal to 4% of target.
Adding the separately presented energy-sector levies produces a grand total of GHS 189.998 billion against a grand-total target of GHS 197.801 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 89.414bn. Variance: GHS +484 million.
Target: GHS 43.241bn. Variance: GHS -2,906 million.
Target: GHS 56.529bn. Variance: GHS -5,070 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.
27 tax streams shown.
| Tax stream | Actual | Target | Variance | Variance % |
|---|---|---|---|---|
| PAYEDomestic direct | 26,714 | 27,486 | -772 | -2.8% |
| Self-employed personal income taxDomestic direct | 1,621 | 1,565 | +56 | +3.6% |
| CompaniesDomestic direct | 45,994 | 45,871 | +123 | +0.3% |
| Other direct taxesDomestic direct | 3,846 | 716 | +3,130 | +437.2% |
| Airport TaxDomestic direct | 1,564 | 1,927 | -363 | -18.8% |
| Mineral royaltiesDomestic direct | 5,412 | 6,243 | -831 | -13.3% |
| National Fiscal Stabilisation LevyDomestic direct | 3,662 | 4,574 | -912 | -19.9% |
| Financial Sector Recovery LevyDomestic direct | 1,085 | 1,032 | +53 | +5.1% |
| Domestic VATDomestic indirect | 20,898 | 22,708 | -1,810 | -8.0% |
| Domestic exciseDomestic indirect | 1,558 | 1,547 | +11 | +0.7% |
| Domestic NHILDomestic indirect | 5,364 | 5,545 | -181 | -3.3% |
| Domestic GETFund LevyDomestic indirect | 5,364 | 5,545 | -181 | -3.3% |
| Communications Service TaxDomestic indirect | 1,132 | 1,115 | +17 | +1.5% |
| COVID-19 levy - flat rateDomestic indirect | 94 | 147 | -53 | -36.1% |
| COVID-19 levy - standard rateDomestic indirect | 2,015 | 2,399 | -384 | -16.0% |
| Electronic Transaction LevyDomestic indirect | 780 | 518 | +262 | +50.6% |
| Special Petroleum TaxDomestic indirect | 3,130 | 3,719 | -589 | -15.8% |
| Import dutiesCustoms | 23,038 | 26,013 | -2,975 | -11.4% |
| Import VATCustoms | 18,257 | 20,277 | -2,020 | -10.0% |
| Import NHILCustoms | 2,868 | 3,027 | -159 | -5.3% |
| Import GETFund LevyCustoms | 2,868 | 3,027 | -159 | -5.3% |
| Import COVID-19 levyCustoms | 1,194 | 1,311 | -117 | -8.9% |
| Petroleum taxesCustoms | 3,235 | 2,874 | +361 | +12.6% |
| Energy Debt Recovery LevyEnergy-sector levies | 1,534 | 1,521 | +13 | +0.9% |
| Energy Sector Recovery LevyEnergy-sector levies | 627 | 569 | +58 | +10.2% |
| Sanitation and Pollution LevyEnergy-sector levies | 298 | 285 | +13 | +4.6% |
| Energy Sector Shortfall and Debt Recovery LevyEnergy-sector levies | 5,847 | 6,241 | -394 | -6.3% |
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.
Concentrated shortfall
Domestic direct taxes were above target, while domestic indirect taxes and Customs were below.
Customs exposure
Customs recorded the largest main-category gap, at GHS 5.070 billion.
VAT weakness
Domestic VAT and import VAT together accounted for GHS 3.830 billion of negative variance.
Growth quality
Nominal growth was 18.3%, but the report's inflation-adjusted growth measure was 4.4%.
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: 2025
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 2025 tax revenue questions
How much tax revenue did Ghana collect in 2025?
The Ministry of Finance reports GHS 181.692 billion in tax revenue for 2025, before the separately presented energy-sector levies.
Did Ghana meet the 2025 annual tax revenue target?
The outturn was 4.0% below the original annual target of GHS 189.184 billion.
How fast did Ghana's tax revenue grow in 2025?
The report records 18.3% nominal growth and 4.4% real growth.
Are energy-sector levies included in the GHS 181.692 billion headline?
No. The report adds separately presented energy-sector levies to reach a grand total of GHS 189.998 billion.
What source does TaxLawGH use?
This page is grounded in the Ministry of Finance Annual Tax Revenue Performance Report for 2025, including its detailed schedules and tax-type analysis.