Cameroon’s Corporate Tax Rate Ranks in Top 20 Globally

Tax Foundation | In a recent survey of 225 distinct regions for the year 2022, it was found that 142 regions have corporate tax rates that are 25 percent or less. Meanwhile, 118 of these jurisdictions impose tax rates that exceed 20 percent but don’t surpass 30 percent. The median tax rate across these 225 regions stands at 22.22 percent. Interestingly, Cameroon has set its corporate tax rate at 33 percent.

A diverse range of countries make up the list of the top 20 with the steepest corporate income tax rates. Africa leads the tally with eight nations, followed by South America with five, North America with four, Europe with two, and Oceania featuring just once.

Table:  20 Highest Statutory Corporate Income Tax Rates in the World, 2022
Country Continent Tax Rate
Comoros* Africa 50%
Puerto Rico North America 37.5%
Suriname South America 36%
Argentina South America 35%
Chad Africa 35%
Colombia South America 35%
Cuba North America 35%
Equatorial Guinea Africa 35%
Guinea Africa 35%
Malta Europe 35%
Sudan Africa 35%
Sint Maarten (Dutch part) North America 34.5%
American Samoa Oceania 34%
Brazil South America 34%
Venezuela (Bolivarian Republic of) South America 34%
Cameroon Africa 33%
Saint Kitts and Nevis North America 33%
Mozambique Africa 32%
Namibia Africa 32%
Portugal Europe 31.5%
*The normal corporate tax rate is 35 percent, which applies to both Comorian companies and foreign companies deriving Comorian-source income. However, public industrial and commercial enterprises or those where the state or certain public institutions are participants are subject to a corporate tax rate of 50 percent if their turnover exceeds 500 million Comorian francs; see Bloomberg Tax, “Country Guides: Comoros,”

Sources: Statutory corporate income tax rates are from OECD, “Table II.1. Statutory corporate income tax rate,” updated May 2022,; PwC, “Worldwide Tax Summaries – Corporate Taxes,” 2022, Bloomberg Tax, “Country Guides – Corporate Tax Rates,” accessed November 2022,; and researched individually, see Tax Foundation, “worldwide-corporate-tax-rates,” GitHub,


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