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No More Half-Measures on Corporate Taxes

17 Oct

In the face of climate change, rising inequality, and other global crises, governments are losing out on hundreds of billions of dollars in tax revenue as a result of corporate tax arbitrage. Yet despite the obvious deficiencies of the global tax regime, policymakers continue to propose only piecemeal fixes.

NEW YORK – Globalization has gotten a bad rap in recent years, and often for good reason. But some critics, not least US President Donald Trump, place the blame in the wrong place, conjuring up a false image in which Europe, China, and developing countries have snookered America’s trade negotiators into bad deals, leading to Americans’ current woes. It’s an absurd claim: after all, it was America – or, rather, corporate America – that wrote the rules of globalization in the first place.

https://www.project-syndicate.org/commentary/oecd-proposal-multinational-tax-avoidance-by-joseph-e-stiglitz-2019-10

 
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Posted by on October 17, 2019 in Economy

 

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