Corporate tax rates vary across the globe and reflect the unique economic needs of every country. Countries rich in natural resources, for example, often generate a bulk of their tax revenue from high corporate taxes on oil and natural gas companies, allowing other industries to operate in a relatively low-tax environment.
While Africa has some of the least competitive tax rates of any continent, there is still a high degree of variation among the countries.
1.Nigeria – $30,000
While Nigeria’s economy has been affected in recent years and inflation has further affected the country, it still maintains a really high corporate tax rate at 30%.
2.South Africa – $28000
South Africa’s average tax rate for corporations has consistently hovered at the 28% mark over the past decade.
East Africa has multiple entries in the list of countries with the highest corporate tax rates, and Kenya kicks off this list.
4.Ethiopia – $30,000
Ethiopia is another East African country with a really high corporate tax rate in the region.
5.Ghana – $25,000
Ghana’s average tax rate for corporations has consistently hovered at the 25% mark over the past decade.
6.Cote d’Ivoire – $25000
On average, the corporate tax rate for Cote d’Ivoire is 25.0%, roughly in line with the global average.
7.Angola – $25,000
The government generates the bulk of its revenue from national oil and gas companies and, as a result, offers low corporate tax rates.
8.Tanzania – $30,000
While East Africa has some of the highest corporate tax rates in Africa, there is still a high degree of variation among countries in the region. In Tanzania, the average tax rate is over 30%
9.DR Congo – $30,000
10.Cameroon – $30,800
The corporate tax rate in Cameroon has increased to 30.8% and has remained at the same level ever since, making it one of the countries with the highest corporate tax rates.
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