A lot of moaning about corporation tax in leftie-blogland today, for no particularly discernible reason. How about this as a ‘no big corporation tax dodging’ principle to adopt at G8:
* All countries adopt the current UK system of charging the parent company tax at the national rate for its home country, with all tax paid abroad offset up to the national rate for its home country
* Only companies that agree to adopt the practice above, and to nominate a registered country as their home country, are allowed to list on regulated stock exchanges
* G8 ministers decide which countries count as ‘registered’, based on principles such as ‘don’t take the piss’, ‘aren’t Ireland’, etc.