How can we tax footloose multinationals?

Many countries are struggling to see how to tax digital economy PIC: WWW.DIEM25.ORG
Many countries are struggling to see how to tax digital economy PIC: WWW.DIEM25.ORG

Apple, Google, Starbucks, and companies like them all claim to be socially responsible, but the first element of social responsibility should be paying your fair share of tax. Instead, globalisation has enabled multinationals to encourage a race to the bottom, threatening the revenues that governments need to function properly. Nobel laureate, JOSEPH STIGLITZ* writes

NEW YORK: In the last few years, globalisation has come under renewed attack. Some of the criticisms may be misplaced, but one is spot on: globalisation has enabled large multinationals, like Apple, Google, and Starbucks, to avoid paying tax.

Apple has become the poster child for corporate tax avoidance, with its legal claim that a few hundred people working in Ireland were the real source of its profits, and then striking a deal with that country’s government that resulted in its paying a tax amounting to .005% of its profit.

Editor's Comment
Women in Politics caucus NGO, a welcome development

In the 2014 General Election, women who stood for parliamentary elections were a mere 17 out of a total of 192 aspirants, and sadly the number dropped to 11 out of 210 parliamentary aspirants in the 2019 General Election. Hopefully, registration of the Women in Politics Caucus will give women the necessary support to join politics. While things were slowly improving, women for a long time were at the receiving end as compared to their male...

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