Yes, excellent point. It's not correct to say a company is more "efficient" in the market simply because it can undercut another company due to being taxed diff

Yes, excellent point. It's not correct to say a company is more "efficient" in the market simply because it can undercut another company due to being taxed differently. If the global companies are able to still compete effectively while paying the same taxes, then they are still welcome to displace local businesses.