[netcan]

VAT would work. You can enact it (most countries do) and collect the expected tax revenue.

But it's not a tax on profits. It's more like a sales tax.

The difference is market distortion. A VAT has more consequences. Higher prices, possibly some impact on employment and/or GDP.

So, in practice it's preferable because it's possible. In theory it's worse because corporate income is more efficient.