It would be interesting to ponder where would companies choose to go if every nation harmonised their tax system globally. Removing all tax incentive.

Or, slightly more achievably, imagine that the EU and a few other economically large countries agreed that any corporation with more than, say, a billion dollars in annual revenue has to pay at least X% effective tax rate somewhere (and report their accounts to each of the countries concerned), or be forbidden from operating within any of their borders.

Extra rules would need to be in place to stop large corporations splitting themselves into smaller smurf companies, but the X% number could initially be set to a value which doesn't cause any low-tax countries to lose any corporations which base themselves there.

We are heading to a harmonised tax system, zero corporation tax everywhere.

"Harmonised tax system" makes it sounds so nice and useful, let's rather call it what it actually is: A race to the bottom, without an actual bottom.

It's not just zero tax, in some cases they are literally handing out incentives, at the expense of the remaining taxpayers.