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Why We Need to Update Financial Reporting for the Digital Era

Harvard Business Review

The market caps of just four companies, Apple, Alphabet, Amazon, and Microsoft, now exceed $3 trillion. Their combined assets of $944 billion are an order of magnitude lower than the combined assets of $7,700 billion of the largest 3,177 companies in 1986, when the aggregate market capitalization reached $3 trillion for the first time.

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The U.S. Corporate Tax Code Is Broken. How Should We Fix It?

Harvard Business Review

The second and third questions raise enforcement and compliance issues — for the second question, things are clear. And given that we permit deferral of tax until repatriation in the current worldwide system, we similarly don''t necessarily care about that low rate paid by them on foreign profits. in inappropriate ways.