From the FT:
The best G8 outcome would be an international agreement on how to link tax bases to real economic activity and limit the creation of letterbox subsidiaries whose sole purpose is to locate the most profitable parts of businesses in low-tax jurisdictions – or in no jurisdiction at all.
In the short run, the UK could provide real leadership by backing a push for a common consolidated corporate tax base across the EU. Far from a thin end of the wedge of tax rate harmonisation, CCCTB can protect legitimate tax competition against claims of unfairness. The G8 should also advance the cause of the automatic exchange of tax information between governments, an essential tool for tax authorities to verify that democratically chosen tax structures are working.
Ritchie then tells us:
Spot on: unitary tax has to be the direction of travel.
Someone really ought to tell one of the UK\’s leading tax experts that a common consolidated corporate tax base across the EU is not the same thing as unitary taxation.