Ghana has been ranked among African countries with the highest corporate taxes on the African Continent.
The study was conducted by OnDeck Capital, an online small business lending company in the United States of America using data on corporate taxes from 200 countries.
According to the report, corporate tax payments in Ghana 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).
According to OnDeck Capital, 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.
