Tax Day arrives April 18 against the backdrop of a serious debate in Washington about the need for tax reform that will spur broadly beneficial economic growth. In principle, a good tax system should have several traits: It should raise enough revenue to pay for government spending. In fact, sensible corporate tax reform can increase growth, lower compliance costs and improve competitiveness, all without increasing the deficit. But successful corporate tax reform would need five key features. Meanwhile, places with tax rates below 10 or 15%—that is, corporate tax havens—suddenly would have no reason to keep operating that way.

Source: Forbes April 17, 2017 18:56 UTC