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Ghana ranked among 10 African countries with highest corporate tax payments on the Continent

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Ghana ranked among 10 African countries with highest corporate tax payments on the Continent

Ghana, per a survey conducted by OnDeck Capital, has been ranked among African countries with the highest corporate taxes on the African Continent.

Corporate tax payment in Ghana, OnDeck Capital notes, average $25,000.

African countries with corporate tax payments higher than Ghana are South Africa ($28,000), Ethiopia ($30,000), Kenya ($30,000), Nigeria ($30,000) and Cameroon ($30,800).

The survey was conducted using data on corporate taxes from 200 countries.

According to OnDeck Capital – an online small business lending company in the United States – 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.

OnDeck Capital notes that Africa has some of the least competitive tax rates of any continent.

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