Corporate income tax

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South Africa's personal income tax has increased in share from ~30% to nearly 40% over the years

Key Takeaways:

In 2007/08, personal income tax (PIT) contributed 29.46% of total tax revenue, while corporate income tax (CIT) added a substantial 24.46%.
The share of personal income tax in tax revenue rose by 27% from 2007/08 to 2023/24.
Corporate income tax contribution declined by 26% from 2007/08 to 2023/24.
In 2019/20, personal income tax made the largest contribution to tax revenue (38.9%), a 32% rise from the 2007/08 contribution.
Other taxes showed minor variations, averaging around 19% of total tax revenue.
Personal income tax reached its peak contribution at 38.92% in 2019/20 before dropping by 4% in 2023/24.

Nigeria's corporate income tax payments hit record high in Q2 2023

Nigeria's government collected ₦2 trillion in corporate income tax in H1 2023, with a spike from ₦469 billion in Q1 to ₦1.53 trillion in Q2. The corporate tax payments for H1 2023 are higher than any full-year collections from 2015 to 2021.

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