In life, two things are certain: death and taxes, the saying goes.
Unless you are a large multinational corporation, in which case, maybe not. Over the past 30 years, corporate tax rates in all countries have fallen to very low levels, as we show in our chart of the week.
This is a problem on several fronts and is one of the reasons why a new approach to international corporate taxation is urgent.
First, the ease with which multinationals seem able to avoid tax, combined with the three-decade long decline in corporate tax rates, undermines both tax revenue and faith in the fairness of the overall tax system.
In life, two things are certain: death and taxes.
Second, the current situation is especially harmful to low-income countries, depriving them of much-neededRead More »