Three African Countries With The Highest Corporate Tax Rates

High corporate tax rates are often seen as a brake on investment and economic growth. However, some African countries have chosen to introduce high tax rates in order to mobilize resources to finance the development of their country. In this article, we are going to look at three African countries that have the highest corporate tax rates on the continent.

1. Zambia:
Zambia is one of the African countries where companies are the most taxed. Its corporate tax rate is set at 35%, which is considerably higher than the African average. This tax policy aims to finance the country’s infrastructure, public services and development. However, this high rate can also be a deterrent to foreign investors looking for places with more attractive tax rates.

2. Tanzania:
Tanzania is another African country that imposes high corporate taxes. Its corporate tax rate is also 35%. This high rate allows the Tanzanian government to mobilize resources to finance development projects, particularly in the education, health and infrastructure sectors. However, some experts believe that this high rate may discourage foreign investment and limit the competitiveness of Tanzanian companies.

3. Angola:
Finally, Angola is an African country that also stands out for its high corporate tax rate. The corporate tax rate in Angola is set at 30%. This high rate aims to mobilize resources to finance the reconstruction of the country after years of civil war. However, experts point out that this rate could also discourage foreign investment and limit the competitiveness of Angolan companies in the international market.

Overall, the high corporate tax rates in these three African countries reflect the willingness of governments to mobilize resources to finance economic and social development. However, it is important to note that these high rates can also have negative effects on the attraction of foreign investment and the competitiveness of local businesses. The right balance therefore needs to be struck between the need to mobilize resources and the promotion of a business-friendly environment.

→ READ ALSO: Mathieu (Love is in the meadow) is about to become a dad for the first time. It opens with emotion in a touching message.

→ READ ALSO: Romane Bohringer celebrates her 50th birthday: her impressive physical evolution in pictures

→ READ ALSO: Haaland is not here to win titles, he wants…

👉 Click here to join news group on Whatsapp