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.