Companies should be forced to say how much tax they pay and where
Hopes for global tax regulation are unrealistic but tax transparency, as a condition of market access for multinationals, could happen now
It might be strange hearing this from a banker, but there is not enough transparency around tax. The result is a situation that favours Alphabet (owner of Google), Amazon and Apple at potentially the expense of everyone else.
National governments have raced to the bottom when it comes to tax – each vying for a few more jobs and a little more investment in their country. And yet those jobs and that investment come at a cost.