If a country does not spend much on defence, and/or has low wages then it should deserve to do well in world trade and afford low tax rates. More so as the West does not do warfare for economic reasons, (officially? Iraq?). So criticism in the past about the Channel Islands, Isle of Man and Ireland are harsh!
Barclays pays low tax on corporate profits. Well if you have a tax system when losses can be brought forward to relieve tax on future profits...what do you expect!
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