The Inadequacy Of BEPS To Fix What's Wrong With The Corporate Income Tax

Conventional wisdom tells us the OECD's base erosion and profit-shifting initiative is the most significant development in tax policy in decades. Not so, says Reuven Avi-Yonah, a law professor at the University of Michigan and one of the leading critical thinkers in global taxation. His recent paper, coauthored with Haiyan Xu, argues that BEPS is an inadequate response to what's ailing the corporate income tax. Their paper also questions the foundational pillars on which today's national tax sys...