Taxing Times Call For Taxing Measures

Taxation is typically a national or local issue, not a global one. However, the runaway success of technology companies and, in recent years, online retailers has elevated the topic to the international arena. The pandemic has increased tech companies’ market-leading positions, as locked-down households and businesses availed themselves of on-line products and services.  Many of these companies have a vast store of highly scalable intellectual capital, which can be “relocated” to whichever jurisdiction taxes it the least.  Or to put it another way, when most of a business lives in “the cloud” how do you tax it?