19th August 2023 10:43:53 AM
1 min readIn the rankings of African countries with the highest corporate taxes, Ghana secures the 10th position on the continent.
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As indicated by a survey conducted by OnDeck, the average corporate tax in Ghana stands at approximately $25,000.
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A number of African nations surpass Ghana in terms of corporate tax payments. These countries include South Africa ($28,000), Ethiopia ($30,000), Kenya ($30,000), Nigeria ($30,000), and Cameroon ($30,800).
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The survey incorporated corporate tax data from 200 countries.
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OnDeck Capital, an online small business lending company based in the United States, highlights that corporate tax rates exhibit significant diversity globally, aligning with each nation's distinct economic requirements.
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For instance, countries endowed with substantial natural resources frequently generate a significant portion of their tax revenue through elevated corporate taxes imposed on oil and natural gas enterprises. This approach enables other industries to function within a relatively low-tax environment.
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OnDeck Capital underscores that Africa possesses some of the least competitive tax rates among all continents.
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