Comment Re:So - the fact that others are doing it makes it (Score 1) 312
If a country wants a piece of the action, maybe they should take a good hard look at their tax code. They may have to lower taxes *gasp* Perhaps getting 17% of something is better than getting 30% of $0.
The reason companies do this is because it's more profitable to hire an army of lawyers and accountants to skirt local laws.
I agree that this sounds reasonable, but I am afraid the reality is that once countries start changing their laws to do this, it won't be enough. If country A says "OK, we'll change the law to get 17%" then country B offers 15% and then later country C offere 12% and so on, businesses will continue to complain about the declining tax rates as still being "excessive" until they reach zero. I can't rule out that some enterprising country might find a way to make a tax rate of 0% work for them if it's done in exchange for the company bringing so many jobs at specified rates there. I just don't believe that cutting the tax rates is really going to solve anything. Here in the USA there may actually be some companies that want the tax code to stay the same. I've read it claimed that Liberty Media prides itself on never paying any US income tax and even has an accounting office dedicated to zeroing out their tax bill every year.