Institute for Fiscal Studies report urges governments to scrap corporate tax system and write modern rules for multinationalsGoogle’s £130m tax deal with the UK reveals the need for a radical overhaul of the international tax system, according to Britain’s leading authority on tax and spending. The Institute for Fiscal Studies (IFS) said governments should consider going back to the drawing board to develop a tax system that accommodates multinationals which currently escape making corporation tax payments in some countries.
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Source: theguardian.com