For too long, multinational corporations – and digital firms in particular – have used existing rules to avoid paying taxes in countries where they do much of their business. But recent encouraging signs suggest that the idea of a global corporate tax on these companies' profits is gaining traction.
NEW DELHI – For some time now, multinational companies (MNCs) have been gaming the rules of the global economy to minimize their tax liability – or even eliminate it altogether. And for some time now, the Independent Commission for the Reform of International Corporate Taxation (ICRICT) has argued for the unitary taxation of MNCs. Fortunately, there have been some encouraging recent signs that the idea of a unitary tax is gaining traction.
NEW DELHI – For some time now, multinational companies (MNCs) have been gaming the rules of the global economy to minimize their tax liability – or even eliminate it altogether. And for some time now, the Independent Commission for the Reform of International Corporate Taxation (ICRICT) has argued for the unitary taxation of MNCs. Fortunately, there have been some encouraging recent signs that the idea of a unitary tax is gaining traction.