{"id":12359,"date":"2026-03-17T18:02:47","date_gmt":"2026-03-17T17:02:47","guid":{"rendered":"https:\/\/www.rivistaeco.com\/?p=12359"},"modified":"2026-03-17T18:02:47","modified_gmt":"2026-03-17T17:02:47","slug":"why-it-is-so-difficult-to-tax-multinationals","status":"publish","type":"post","link":"https:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/","title":{"rendered":"Why It Is So Difficult to Tax Multinationals"},"content":{"rendered":"

It is often said that multinationals pay little tax because they can choose where to be taxed\u2014a form of large-scale global tax avoidance. This issue has long been on the agenda of governments and international organizations. In October 2021, nearly 140 countries reached a historic agreement to launch a major reform of international taxation. As a result, since January 1, 2024, the global minimum tax has been in force, aiming to ensure a minimum tax rate of 15 percent for large multinational corporations. The conditional tense is appropriate, however, as implementation has proven far more complex than expected, with significant obstacles\u2014particularly the stance of the United States. For the European Union, this represents another challenging test, but also a potential opportunity.<\/em><\/p>\n

\u00a0<\/em><\/p>\n

Since the 1990s, the taxation of corporations has become increasingly complex, due both to growing international integration and to the rising mobility of capital and firms. A key example of this complexity concerns multinationals: in which country should they be taxed, given that they operate across multiple jurisdictions?<\/p>\n

Why Tax Competition Among States Is Increasing<\/strong><\/h3>\n

In general, taxing rights are assigned to the country where production takes place\u2014the so-called source country\u2014provided that the activity is carried out through a permanent establishment, that is, a fixed physical presence. However, the application of this principle has encouraged multinationals to shift both real production activities (through foreign direct investment) and accounting profits to countries offering more favorable tax regimes, including so-called tax havens.<\/p>\n

This process has fueled increasingly intense tax competition among states, which for a long time translated mainly into reductions in statutory tax rates, as shown in the figure below. In recent years, however, different strategies have emerged, based on granting tax incentives to attract investment\u2014such as accelerated depreciation or tax credits\u2014with the aim of making countries more attractive locations for productive activity.<\/p>\n

\"\"<\/p>\n

Many Ways to Shift Profits to Low-Tax Jurisdictions<\/strong><\/h3>\n

Tax competition aimed at attracting investment or profits generates negative effects in terms of both equity and efficiency. On the one hand, investment should flow to countries where capital is most productive, not where it is simply least taxed. On the other hand, even the mere relocation of taxable profits\u2014without any real economic activity\u2014reduces the revenue available to finance public spending in high-tax countries or forces them to rely on alternative forms of taxation.<\/p>\n

In this context, the tax burden tends to fall on less mobile factors, particularly labor, while profits\u2014highly mobile and largely concentrated among large multinationals\u2014benefit. Multinational firms are also best able to bear the costs of tax planning, adopting strategies aimed at minimizing their tax liabilities, especially through profit shifting from high-tax to low-tax jurisdictions.<\/p>\n

These practices have drawn increasing attention from international organizations and public opinion, as they are considered among the most harmful forms of tax competition. The box below illustrates some of the simplest mechanisms through which profits can be transferred between related companies in different countries, generating overall tax savings.<\/p>\n

 <\/p>\n

\n

Examples of Profit Shifting<\/strong><\/span><\/p>\n

Intra-group loans.<\/strong> Consider two related companies, a parent (A) and a subsidiary (B), where A is located in a high-tax country (e.g., 30 percent) and B in a low-tax country (e.g., 10 percent). If B lends money to A, the interest paid by A (e.g., \u20ac1,000) is deductible, reducing its tax liability (\u2212\u20ac300), while B pays only \u20ac100 in tax on the interest received. The group thus achieves a net tax saving of \u20ac200.<\/span><\/p>\n

Transfer pricing.<\/strong> When two related companies exchange goods or services, pricing rules apply. However, determining these prices is difficult, especially for intangible goods without clear market benchmarks. This makes it relatively easy to inflate costs in high-tax countries (reducing taxable profits) while increasing revenues in low-tax jurisdictions.<\/span><\/p>\n

Trademarks and licenses.<\/strong> Another common strategy is to register trademarks, patents, licenses, or software in low-tax jurisdictions, so that royalties and fees paid by users are taxed there, reducing the overall tax burden of the multinational group.<\/span><\/p>\n

\n

 <\/p>\n

Over time, and especially with the digitalization of the economy, these issues have become even more complex. How can we define a permanent establishment and allocate profits to the place of production when firms operate through networks that transcend geographic boundaries? And how should this be done when firms engage in multiple, often intangible activities\u2014from research and development to marketing, production, and sales? Traditional categories are no longer adequate to capture the complexity of the modern business environment, particularly for large digital platforms.<\/p>\n

Two Pillars to Address Tax Avoidance<\/strong><\/h3>\n

To address these challenges, in 2013 the OECD, together with the G20, launched the BEPS (Base Erosion and Profit Shifting) project. The goal was to develop a shared framework of international tax rules, based on consensus, to combat profit shifting and the erosion of the tax base. The most ambitious proposals emerging from this process are the so-called Pillar 1 and Pillar 2, officially announced with the landmark political agreement reached in October 2021 by nearly 140 countries.<\/p>\n

Pillar 1 addresses the taxation of the digital economy, correcting the current framework under which, in the absence of a permanent establishment, all tax revenue is attributed to the country of residence of the multinational\u2014typically the United States or China. For large firms (with revenues exceeding \u20ac20 billion), Pillar 1 allocates taxing rights also to the countries where users are located and revenues are generated, even without a physical presence. At the same time, it requires the abolition of unilateral digital services taxes (DSTs), such as those introduced by several countries, including Italy.<\/p>\n

Pillar 2, by contrast, introduces a minimum effective tax rate of 15 percent for multinational groups with consolidated revenues of at least \u20ac750 million\u2014the so-called global minimum tax (GMT). Its primary goal is to curb tax competition among states in attracting profits.<\/p>\n

The Major Obstacle: The U.S. Position<\/strong><\/h3>\n

The mechanisms of both pillars have proven technically complex and costly to implement for both firms and tax administrations. Even more challenging have been political resistance and coordination problems at the international level. Over time, many countries have slowed implementation, and amid technical and political difficulties, Pillar 1 has effectively stalled.<\/p>\n

Pillar 2 has followed a different trajectory, at least from a regulatory perspective. Its operational rules have been defined in detail by the OECD through the so-called GloBE rules. However, of the roughly 140 countries that initially supported the project, fewer than half have fully implemented these rules, even though the global minimum tax entered into force in most jurisdictions on January 1, 2024.<\/p>\n

Among the early adopters are European Union countries, which have implemented a specific EU directive (2523\/2022) largely aligned with OECD rules. However, key global players\u2014including the United States, China, and India\u2014remain outside the scope of implementation.<\/p>\n

The position of the United States is particularly critical, as it hosts the largest number of multinational corporations. Although it signed the 2021 agreement, it has not implemented it and has not adopted the GloBE rules. The Trump administration has taken an especially aggressive stance against both pillars, arguing that they are extraterritorial, infringe on national sovereignty, violate international agreements, and discriminate against U.S. companies. It has also threatened retaliatory measures, including increased taxation of foreign firms.<\/p>\n

In response to the U.S. position, some countries\u2014such as Canada and India\u2014have moved to revise or abolish their digital services taxes, while within the EU the idea of a common digital tax has been set aside. As for Pillar 2, after a series of concessions, a compromise agreement was reached at the G7 in June 2025, excluding U.S. multinationals from two key provisions deemed to infringe sovereignty and to be discriminatory. This special treatment, based on a so-called \u201cside-by-side\u201d approach, rests on the assumption that U.S. anti-avoidance rules are broadly equivalent to Pillar 2, despite significant differences between the two regimes.<\/p>\n

Toward a New Global Agreement<\/strong><\/h3>\n

The failure of several countries to implement the GloBE rules, together with concessions granted to U.S. multinationals, is seriously jeopardizing the prospects of a global minimum tax. In recent months, the OECD has therefore sought a compromise solution to preserve, at least in part, the objective of limiting tax competition.<\/p>\n

The agreement reached on January 5 is based on extending the \u201cside-by-side\u201d approach\u2014initially granted to the United States\u2014to all countries. Under this framework, national corporate tax systems\u2014reflecting each country\u2019s fiscal sovereignty\u2014may be considered \u201cacceptable\u201d for the purposes of minimum taxation, alongside or instead of the global minimum tax rules, provided they meet certain core criteria. The stability of this system, in which global rules coexist with multiple national regimes deemed equivalent, will depend critically on how their compliance is assessed.<\/p>\n

Another important issue addressed in the January 5 agreement concerns tax incentives, which under current GloBE rules may affect effective tax rates differently. Here again, the challenge has been to strike a balance between granting states greater autonomy and flexibility in designing incentives, while avoiding excessive tax competition to attract investment\u2014potentially even more harmful than competition aimed at attracting profits.<\/p>\n

What are the implications for the European Union? As a whole, the EU hosts a share of large multinationals comparable to that of the United States, but these firms are less profitable and could be disadvantaged if global agreements evolve unfavorably.<\/p>\n

There is also a risk to be avoided: triggering internal tax competition among EU member states. This delicate phase should instead be seen as an opportunity to strengthen coordination of corporate taxation at the EU level\u2014for example, through the BEFIT (Business in Europe: Framework for Income Taxation) directive proposed by the European Commission in 2023\u2014and to enhance the overall competitiveness of European multinationals operating within the single market. The EU\u2019s bargaining power in international negotiations would also benefit.<\/p>\n

 <\/p>\n

Silvia Giannini was Professor of Public Finance at the University of Bologna. She is a member of the editorial board of lavoce.info, a member of the Fiscal Laboratory and of the Il Mulino Association, and serves on the ministerial commission on tax expenditures.<\/em><\/p>\n

Alberto Zanardi is Professor of Public Finance at the University of Bologna and a member of the Scientific Committee for Public Spending Review at the Ministry of Economy and Finance. He previously chaired the Technical Commission on Standard Needs and served on the Governing Board of the Parliamentary Budget Office.<\/em><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

It is often said that multinationals pay little tax because they can choose where to be taxed\u2014a form of large-scale global tax avoidance. This issue […]<\/p>\n","protected":false},"author":19484,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"coauthors":[425,178],"class_list":["post-12359","post","type-post","status-publish","format-standard","hentry","category-non-categorizzato"],"acf":[],"yoast_head":"\nWhy It Is So Difficult to Tax Multinationals - Rivista Eco<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why It Is So Difficult to Tax Multinationals - Rivista Eco\" \/>\n<meta property=\"og:description\" content=\"It is often said that multinationals pay little tax because they can choose where to be taxed\u2014a form of large-scale global tax avoidance. This issue […]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/\" \/>\n<meta property=\"og:site_name\" content=\"Rivista Eco\" \/>\n<meta property=\"article:published_time\" content=\"2026-03-17T17:02:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png\" \/>\n<meta name=\"author\" content=\"Silvia Giannini, Alberto Zanardi\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silvia Giannini, Alberto Zanardi\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"10 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/\"},\"author\":{\"name\":\"Silvia Giannini\",\"@id\":\"https:\\\/\\\/www.rivistaeco.com\\\/#\\\/schema\\\/person\\\/f645ffeba89ba3ba72e387c2c600d7c4\"},\"headline\":\"Why It Is So Difficult to Tax Multinationals\",\"datePublished\":\"2026-03-17T17:02:47+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/\"},\"wordCount\":1707,\"image\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rivistaeco.com\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/03\\\/Eco-26-1_grafici_eng_giannini-1024x717.png\",\"articleSection\":[\"Non categorizzato\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/\",\"url\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/\",\"name\":\"Why It Is So Difficult to Tax Multinationals - Rivista Eco\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.rivistaeco.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#primaryimage\"},\"image\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rivistaeco.com\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/03\\\/Eco-26-1_grafici_eng_giannini-1024x717.png\",\"datePublished\":\"2026-03-17T17:02:47+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.rivistaeco.com\\\/#\\\/schema\\\/person\\\/f645ffeba89ba3ba72e387c2c600d7c4\"},\"breadcrumb\":{\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.rivistaeco.com\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/03\\\/Eco-26-1_grafici_eng_giannini-1024x717.png\",\"contentUrl\":\"https:\\\/\\\/www.rivistaeco.com\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2026\\\/03\\\/Eco-26-1_grafici_eng_giannini-1024x717.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/2026\\\/03\\\/17\\\/why-it-is-so-difficult-to-tax-multinationals\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\\\/\\\/www.rivistaeco.com\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why It Is So Difficult to Tax Multinationals\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.rivistaeco.com\\\/#website\",\"url\":\"https:\\\/\\\/www.rivistaeco.com\\\/\",\"name\":\"Rivista Eco\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.rivistaeco.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.rivistaeco.com\\\/#\\\/schema\\\/person\\\/f645ffeba89ba3ba72e387c2c600d7c4\",\"name\":\"Silvia Giannini\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g422c0fe14a99e3e443353bda4379ef8c\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g\",\"caption\":\"Silvia Giannini\"},\"url\":\"https:\\\/\\\/www.rivistaeco.com\\\/en\\\/author\\\/sgiannini\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Why It Is So Difficult to Tax Multinationals - Rivista Eco","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/","og_locale":"en_US","og_type":"article","og_title":"Why It Is So Difficult to Tax Multinationals - Rivista Eco","og_description":"It is often said that multinationals pay little tax because they can choose where to be taxed\u2014a form of large-scale global tax avoidance. This issue […]","og_url":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/","og_site_name":"Rivista Eco","article_published_time":"2026-03-17T17:02:47+00:00","og_image":[{"url":"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png","type":"","width":"","height":""}],"author":"Silvia Giannini, Alberto Zanardi","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Silvia Giannini, Alberto Zanardi","Est. reading time":"10 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#article","isPartOf":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/"},"author":{"name":"Silvia Giannini","@id":"https:\/\/www.rivistaeco.com\/#\/schema\/person\/f645ffeba89ba3ba72e387c2c600d7c4"},"headline":"Why It Is So Difficult to Tax Multinationals","datePublished":"2026-03-17T17:02:47+00:00","mainEntityOfPage":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/"},"wordCount":1707,"image":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png","articleSection":["Non categorizzato"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/","url":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/","name":"Why It Is So Difficult to Tax Multinationals - Rivista Eco","isPartOf":{"@id":"https:\/\/www.rivistaeco.com\/#website"},"primaryImageOfPage":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#primaryimage"},"image":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png","datePublished":"2026-03-17T17:02:47+00:00","author":{"@id":"https:\/\/www.rivistaeco.com\/#\/schema\/person\/f645ffeba89ba3ba72e387c2c600d7c4"},"breadcrumb":{"@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#primaryimage","url":"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png","contentUrl":"https:\/\/www.rivistaeco.com\/wp-content\/uploads\/sites\/2\/2026\/03\/Eco-26-1_grafici_eng_giannini-1024x717.png"},{"@type":"BreadcrumbList","@id":"http:\/\/www.rivistaeco.com\/en\/2026\/03\/17\/why-it-is-so-difficult-to-tax-multinationals\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"http:\/\/www.rivistaeco.com\/en\/"},{"@type":"ListItem","position":2,"name":"Why It Is So Difficult to Tax Multinationals"}]},{"@type":"WebSite","@id":"https:\/\/www.rivistaeco.com\/#website","url":"https:\/\/www.rivistaeco.com\/","name":"Rivista Eco","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rivistaeco.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rivistaeco.com\/#\/schema\/person\/f645ffeba89ba3ba72e387c2c600d7c4","name":"Silvia Giannini","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g422c0fe14a99e3e443353bda4379ef8c","url":"https:\/\/secure.gravatar.com\/avatar\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f254e607c96936e2692f3695d64263a9ac0522950630fd0653087bef219e2dd3?s=96&d=mm&r=g","caption":"Silvia Giannini"},"url":"https:\/\/www.rivistaeco.com\/en\/author\/sgiannini\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/posts\/12359","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/users\/19484"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/comments?post=12359"}],"version-history":[{"count":3,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/posts\/12359\/revisions"}],"predecessor-version":[{"id":12380,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/posts\/12359\/revisions\/12380"}],"wp:attachment":[{"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/media?parent=12359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/categories?post=12359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/tags?post=12359"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.rivistaeco.com\/en\/wp-json\/wp\/v2\/coauthors?post=12359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}