Premise: Suppose that a multinational enterprise resides in a jurisdiction that has the world's highest corporate income tax rate and taxes corporate income on a worldwide basis. Further suppose that all taxes are paid when the income is earned (i.e. deferred repatriation is not an option). The jurisdiction deducts a foreign tax credit for taxes paid abroad. Claim:The MNE's global corporate income tax bill can be calculated by applying the domestic corporate tax rate to the firm's worldwide inc