Note 2-26

(26) Since competition for cutting corporate tax rates reduces tax revenues and impairs the fairness and neutrality of the tax system, there are moves for international coordination, such as the compilation of "Harmful Taxation List" by the OECD ( "Harmful Tax Competition (1998)." The EU is also tackling the problem of removing tax-favored investment that would distort intraregional competition, by publishing "Toward an Internal Market without Tax Obstacles (2001)."