Many global companies have evolved to or are evolving to, astateless c...

Many global companies have evolved to or are evolving to, a â€˜stateless corporationâ€™.Â Â The US and most...

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Economics

Many global companies have evolved to or are evolving to, aâ€˜stateless corporationâ€™.Â Â The US and most OECD countrieshave legal authority to tax a domiciled corporation on itsworldwide revenue.Â Â However, as of 2019, most countriestax these corporations based on territorial tax (revenue withinthat country's borders).Â Â However, the US continues totax these corporations based on global revenues.Â Â Is thisa good choice for the US?Â Â Why or why not?.

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WORLDWIDE TAXATION is the current norm of taxation system being followed in the USA However it is not the optimal choice to empower business to perform competitively in the global marketIdeally the US Government should follow the TERRITORIAL TAXATION scheme WHAT IS WORLDWIDE TAXATION A corporation having its headquarters in the USA is required by law to pay corporate income tax on all its income both within the American boundaries as See Answer

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