The world economy is increasingly subject to the forces of globalisation - that is, jurisdictional borders are becoming less important in the conduct of trade, investment, and work. A shame then, that someone failed to inform the world's tax authorities, at least until recently.

The OECD's Base Erosion and Profit Shifting (BEPS) project is of course attempting to adapt the world's corporate tax rules to a situation whereby borders are almost meaningless, especially in the context of the rapidly growing digital economy.