Too bad the “creators” of globalization did not pay attention to the elephant in the room, some 30 years ago. They thought about a lot of things regarding the regulation of free trade, but the regulation of tax wars between countries has been forgotten. So now, after these three decades of a race to the bottom in international taxation, we have to finish the work.

Without intervention, globalization itself is in peril

Many are calling the “global minimum tax initiative,” a tax revolution. Yes, in the sense that a global minimum tax has generally been considered a utopian idea. Just the hope of its adoption by the summer of 2021 shows that the international tax community is in turmoil, even in revolution.

Yet, in reality, the answer is no, it is not a revolution. It’s the missing link needed to complete globalization because without protecting countries against tax wars, globalization is doomed to fiscal injustice and…

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