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The short answer
Ghana withholds tax at 8% on dividends paid to non-resident shareholders, and PwC's summary, reviewed in March 2026, treats it as a final tax. Because no Ghana-Nigeria double tax treaty is in force, a Nigerian shareholder pays the full domestic 8%; the treaty was reported as concluded in 2018, but GRA's 2023 status list shows no entry-into-force date and PwC's 2026 tables still do not list Nigeria.
If you hold shares in a Ghana company, whether as a Nigerian individual or through a Nigerian company, the dividend arrives after Ghana tax has been taken. The rate is the same 8% whether you live in Ghana or Nigeria, but the treaty question and the Nigerian side are where people get confused.
The rate
| Shareholder | Ghana WHT on dividends | Final tax? |
|---|---|---|
| Resident in Ghana | 8% | Yes |
| Non-resident, including Nigerian residents | 8% | Yes |
| Ghana branch profits repatriated by a non-resident company | 8% | Yes |
Source: PwC Worldwide Tax Summaries for Ghana, reviewed 11 March 2026. PwC's individual pages also describe dividends as subject to a final 8% withholding tax for residents and non-residents. "Final" means the withholding is the end of the Ghana tax on that dividend; check with GRA whether you need to file a Ghana return for any other reason.
Why there is no treaty rate
Treaties often cut withholding on dividends. Ghana's treaty with the UK, for example, caps it at 7.5% where the shareholder holds at least 10% of the shares, according to PwC's Ghana table. Nigeria does not have this benefit:
- A PwC Nigeria note published on Mondaq in August 2018 said Nigeria and Ghana had concluded negotiations on a double taxation treaty on 26 July 2018, with signing and ratification to follow.
- GRA's list of Ghana's treaties and their status, dated 6 June 2023, records Nigeria as "Negotiations Completed in 2018" with no entry-into-force date.
- PwC's Ghana treaty table, reviewed March 2026, does not list Nigeria among treaties in force, and lists it among countries Ghana is pursuing treaties with.
- PwC's Nigeria page, reviewed May 2026, says the ECOWAS treaties including Ghana's were ratified in Nigeria but not by the counterparties, so they are not in force.
Until a treaty is in force in both countries, the 8% domestic rate applies. Our guide on the Ghana-Nigeria tax treaty status tracks this.
A worked example
Example only: a Lagos-based shareholder owns 30% of an Accra company that declares a total dividend of GH¢1,000,000.
| Step | Calculation | Amount |
|---|---|---|
| Shareholder's gross dividend | 1,000,000 × 30% | GH¢300,000 |
| Ghana WHT at 8% | 300,000 × 8% | GH¢24,000 |
| Net dividend paid | 300,000 − 24,000 | GH¢276,000 |
The company pays the GH¢24,000 to GRA and should give the shareholder evidence of the deduction. Keep it: you will want it for your Nigerian tax records.
The Nigerian side
Whether Nigeria taxes the dividend depends on whether you are resident in Nigeria. AELEX's January 2026 analysis on Mondaq says Nigerian residents may be taxed on their global income under the Nigeria Tax Act 2025, and that without a treaty, double taxation may arise. Whether Nigeria gives credit for the Ghana 8% is a question for your Nigerian adviser; we did not confirm it for this article. If you live in Ghana instead, Ghana's own rules on foreign income apply to your other income; see Nigerian dividends paid to someone in Ghana.
The same question the other way round
If you are a shareholder in Nigerian companies as well, note that Nigeria's own rate is different. PwC's Nigeria summary, reviewed in May 2026, gives Nigerian withholding tax on dividends at 10% for resident and non-resident companies and individuals, and the same treaty gap applies to Ghana residents receiving Nigerian dividends.
Paperwork to ask the company for
- A dividend voucher showing the gross dividend, the tax withheld and the net amount.
- Evidence that the withholding tax was paid to GRA.
- The board resolution or notice declaring the dividend and its date.
- Bank details confirmation before payment, so the transfer goes to the right account.
What to check first
- Is the company withholding 8%, and do you have proof it paid GRA?
- Are you resident in Nigeria, Ghana or both for the year?
- Has the Ghana-Nigeria treaty come into force since this article was written?
- Does your Nigerian adviser expect any further Nigerian tax on the dividend?
If you are moving the money as a company, see moving company profits from Ghana to Nigeria.
Where Pryme fits
A Pryme account can receive the dividend in the currency it is paid in and hold it until you choose to convert with Swap; the rate and fee are shown before you approve.
Questions people ask
What is the dividend withholding tax rate in Ghana?
8%, as a final tax for both resident and non-resident shareholders, according to PwC's Ghana summary reviewed in March 2026.
Is there a Ghana-Nigeria double tax treaty?
Negotiations were reported concluded in 2018, but GRA's 2023 status list shows no entry into force and PwC's 2026 tables do not list it as in force.
Do I pay tax in Nigeria on dividends from Ghana?
If you are resident in Nigeria you may be taxed on global income, according to AELEX. Ask a Nigerian adviser how the Ghana 8% is treated.
Do I need to file a Ghana tax return for my dividend?
The 8% is a final tax, so it ends the Ghana tax on that dividend. Check with GRA whether you need to file for any other Ghana income.
Sources
- PwC Worldwide Tax Summaries: Ghana, withholding taxes (reviewed 11 Mar 2026) · accessed Oct 2026
- PwC Worldwide Tax Summaries: Ghana, individual income determination (reviewed 11 Mar 2026) · accessed Oct 2026
- GRA: Ghana's double taxation agreements and status (6 Jun 2023) · accessed Oct 2026
- Mondaq (PwC Nigeria): Nigeria and Ghana have concluded a double taxation avoidance treaty (6 Aug 2018) · accessed Oct 2026
- PwC Worldwide Tax Summaries: Nigeria, withholding taxes (reviewed 29 May 2026) · accessed Oct 2026
- Mondaq (AELEX): living abroad, taxed at home: how family ties now shape tax residence in Nigeria (15 Jan 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.