Global Tax Reform Urgently Needed to Combat Corporate Tax Avoidance
The article discusses how multinational corporations use loopholes in tax laws to avoid paying taxes, known as aggressive tax planning. Current international tax rules allow this to happen, leading to a need for reform. One proposed solution is a unitary tax system, but it may be challenging to implement globally. Another option is for corporations to self-regulate and act responsibly in managing their taxes. This approach, combined with existing regulations, can help reduce aggressive tax planning.