Businesses already have vat of 5 percent. They are already suffering due to Corona and could not survive Covid and shut down now. They will just leave. Already happened with implementation of VAT in 2018 when plenty of companies left for 0 tax havens as evident by closure of Ajman freezone office in Dubai. It will be like suicide. Remember tax attorneys and CPAs want to keep doing this to make their $$ and that is why we see
IRS gaining nothing from overseas taxes on its citizens living overseas. Only the compliance industry in USA is happy. US didn't sign on
OECD treaty to share but shoved it on every govt threatening them with their correspondence accounts in USD. Many trusts, corporations, wealthy
rich from many EU and the rest of the world moved their offices from Switzerland to gain 0 percent taxation and reporting. The information is available out there. This was just to get money from the rest of the world to deposit in its banks and keep their economy floating.