The corporate income tax system needs a major update to keep up with the digital economy. The current system was designed for a time when companies mostly dealt with physical assets, but now with digitalization and global trade, it's outdated. To fix this, we could align the tax base with accounting profits, tax companies based on cash flow instead of income, or use presumptive indicators of activity for taxation. However, these changes would require international agreement, which might be challenging due to conflicting interests between countries.