Wealthy humans stash away trillions of greenbacks in tax havens like Switzerland, the Cayman Islands, or Singapore. Multinational enterprises shift their earnings to low-tax jurisdictions like eire or Panama to prevent paying tax. fresh tales within the media approximately Apple, Google, Starbucks, and Fiat are only the top of the iceberg. there's hardly ever any multinational this present day that respects not only the letter but additionally the spirit of tax legislation. All this turns into attainable as a result of tax pageant, with nations strategically designing monetary coverage to draw capital from in another country. The loopholes in nationwide tax regimes that tax festival generates and exploits draw into query political fiscal lifestyles as we shortly are aware of it. They undermine the economic autonomy of political groups and give a contribution to emerging inequalities in source of revenue and wealth.

Building on a cautious research of the moral demanding situations raised by means of a global of tax pageant, this e-book places ahead a normative and institutional framework to manage the perform. briefly, members and firms may still pay tax within the jurisdictions of which they're individuals, the place this club can are available levels. in addition, the strategic tax environment of states could be constrained in vital methods. a global Tax business enterprise (ITO) may be created to implement the foundations of tax justice.

The writer defends this demand reform opposed to vital objections. First, Dietsch refutes the advice that regulating tax pageant is inefficient. moment, he argues that legislation of this type, instead of representing a constraint on nationwide sovereignty, in truth seems to be a demand of sovereignty in a world financial system. The booklet closes with a chain of reflections at the tasks that the beneficiaries of tax festival have in the direction of the losers either sooner than any institutional reform in addition to in its aftermath.