G7 tax deal: if you think multinationals will be forced to pay more, you don't understand tax avoidance

By Ronen Palan, Professor of International Politics, City, University of London

Finance ministers in London from the G7 group of wealthy nations have agreed a deal that has been described invariably as a landmark that will transform the landscape of global corporate tax. Although details are somewhat scant, and the supposed deal is still in a negotiation phase, it is certainly transformational.

The only thing I am not sure about is, transformation from what to what? Is it going to transform a system of taxation that was designed early in the…

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