I guess : The company pays tax wherever it is domiciled - and that's a matter of corporate tax rates, money transfer restrictions, and other red tape.
On a personal basis, it makes a huge difference whether one is a US citizen (where you have to pay the USA on the first $80k of your worldwide income, whether you are in the US or elsewhere) or not (most countries only tax you when you are tax resident).
For those not caught in the worldwide income trap, most countries only clock you in as a tax resident if you're there for more than 180 days in a year. If one can happily move on every 5 months (eg: Summer in France, 'Winter' in Chile, plus a couple of spare month's vacation) - then one can live tax-free legally...
