As Europe’s exchequers go deep into the red due to the pandemic, a co-ordinated approach to corporate taxation is ever-more urgent.
The OECD has proved unable to tackle tax havens, so it is up to the European Union to do so.
The Covid-19 crisis is making progress in the fight for corporate tax justice more difficult, yet more essential.
Falling corporate taxation has been matched by a rising contribution from labour. But there are ways to redress the balance between citizens and companies.
Five decades on, a ‘Tobin tax’ is no longer fit for purpose. Now what should be taxed, progressively, is all financial flows.
Tax wars have so far denied the EU the unanimity required to stop the race to the bottom on corporation tax.