Re: Start with the basics and work from there
What is "Fair" is exactly the point. These companies are still paying the relevant percentage of their operating profits, less any other allowances they can find. They can't afford to break the law, nor do they have to - the existing loopholes give them plenty of wiggle room to minimise their tax bills anyway. Smaller companies lose out because they can't afford expensive accountants to find all the same little loopholes, or more frequently because they are pinned down to a real physical location and no means to move profits off shore. The fact that you think the current situation isn't "fair" is proof that the issue still isn't settled, let alone a quarter of a millenia ago.
Taxing revenue rather than profits is a rather blunt instrument, which could be rather problematic. If that were applied to some industries and it would be enough to send everything into the red immediately. However, at least it's a proposal to actually do something rather than just the usual political hand wringing about the moral conduct of big businesses - that's just a waste of everyone's time.