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.
To determine how small businesses are taxed, OnDeck collated the amount of tax small businesses pay in 200 countries. So without further ado, let’s see the major economies in Africa where corporations have to play their part in improving the economy:
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%.
South Africa – $28000