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Comment by nradov | Hacker News Reader

Eliminate corporate income taxes, and make the change revenue neutral by raising taxes on individual corporate investors and high-income employees. The money eventually flows to them anyway. By eliminating corporate income tax we could cut out all the waste and non-productive tax avoidance financial engineering. We wouldn't need corporate tax accountants at all. This would boost growth rates and economic efficiency.

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Wouldn't those high income employees just become tax exiles and move away? That's what happens with athletes like Lewis Hamilton living in Monaco.

It doesn't matter where they live. Foreign investors can still be required to pay income and capital gains taxes on money earned in a particular country. The government can always block or seize international payments to tax evaders.

In theory the countries where Lewis Hamilton races and earns his income could tax him there. But generally they let him slip through loopholes to maintain good relations with F1.

So Lewis Hamilton needs to fill tax returns in the 40 countries he works in at the end of the season

To be fair: I'd expect Mr. Hamilton to be payed for his 40 races by exactly one company which is based in one location, rather than for each race by one of 40 companies.

This depends on the tax laws of the country. Some countries will tax certain income, other countries won't.

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