There's an hour long discussion here
The solution might be thet every country splits off its own part of these companies and they are incorporated in the country concerned. There will be a normal, fixed rate of company tax on the company which cannot be offset in other places, with effective controls on company operating practices. A fully socialist state could nationalise without compensation, though it would have to do this with other countries at the same time or the US would sanction the country involved.
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