The Free-Market Case Against Tax Competition
Those who believe in the power of competition to produce optimal market outcomes tend to view taxation, regulation, and other forms of state intervention as hurdles to growth and prosperity. But by arguing in favor of "tax competition" among advanced economies, they are supporting a status quo that encourages monopoly.
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LONDON – The global race to cut corporate tax rates accelerated in 2018. According to the OECD’s latest annual review of tax policies across developed economies, the average rate of taxation on corporate profits has fallen from 32.5% in 2000 to below 24% today.