- Tax bands are globally agreed. Income tax on companies cannot be lower than x and cannot be greater than y by multilateral agreement
- Double Tax agreements are multilateral (through the WTO) and not bilateral between countries.
This will remove much of the pain global businesses face from the inevitable conflict of national tax laws.
Nobody can do justice to this area without writing a 1500 page PhD thesis. I have absolutely no intention of doing so ! All I am catalysing is a thought.
Tomorrow I'll post on another aspect of globalisation - why it seems to be dirty word in the minds of many.