As long as no laws are violated, tax arbitrage is responsible corporate behaviour. These companies aren't "cutting tax bills", so much as they are arbitraging between different tax regimes across borders. It is their responsibility to their shareholders to do so. Market forces will dictate that if they don't, a more nimble competitor will and will subsequently take market share.
True, from a first order perspective (short-term). But it's not the only perspective. It's also in the shareholders best interest when crime rates in the vicinity of their production and R&D facilities are low, education levels are high, transport systems are functional and well maintained, etc. etc. We can all agree on that.
However, cooperation would require negotiations of laws on a global scale. The existing systems in our old nation states are just not suitable for that.
Sure - but addressing social & public needs is the responsibility of government, not private corporations.
Tax arbitrage strategies can be shutdown by governments. Transparency would be a good start. Require every listed corporation to diagram all of their corporate/llc vehicles worldwide and their interdependencies. Require balance sheets and cash flow statements for each of these entities.
Govt needs fund (aka tax) to pay for carrying out the responsibility of govt. And yet these powerful new elites of the society now actively resist paying taxes. They obviously care for their own pockets only but they drag other wannabe riches into the same camp too. In the end the govt loses more and more tax revenue.
A little historical digression.
Kings often had trouble keeping merchants and rich nobles in their places. Often the kings lost out, either completely as losing their heads or losing the power and become figure heads. And these kings often seemed to have absolute power and yet they couldn't keep the powerful in the society in check.
And nowadays these corporations lobby the govt and influence the high officials from early on with promise of cushy jobs for them or their kids.
Govts shutting down tax arbitrage? Yes, sounds so easy but it's near impossible because the powerful forces in society are resisting it.
