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  • 1
    Online Resource
    Online Resource
    Corporate taxation and investment of multinational firms : Evidence from firm-level data (2020)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (32 p.)
    Series Statement: OECD Taxation Working Papers no.51
    Keywords: Finance and Investment ; Taxation ; Economics
    Abstract: This paper explores the effect of corporate taxes on the investment of multinational enterprises (MNEs), and whether this effect differs across MNE groups depending on their profitability rate. Firm-level analysis conducted on a cross-country panel of MNE entities confirms the earlier finding that MNE investment in a jurisdiction is negatively affected by effective corporate tax rate increases in that jurisdiction. The analysis also suggests that the tax sensitivity of MNE investment differs across entities belonging to different MNE groups, with a U-shape relationship between tax sensitivity and MNE group profitability. Entities belonging to groups with negative profitability or relatively high profitability rates are found to be relatively less sensitive than those belonging to groups with lower but positive profitability rates. For example, the estimated tax sensitivity of firms in MNE groups with a profitability rate above 10% is found to be nearly half the sensitivity of a firm in an MNE group with a profitability rate between 0% and 10%. This has implications with regard to the tax reform proposals currently under discussion by the OECD/G20 Inclusive Framework on BEPS, as this suggests that highly profitable MNE groups, which are more likely to be impacted by the proposals, may be less sensitive to taxes in their investment behaviour than the typical MNE.
    DOI: 10.1787/9c6f9f2e-en
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 2
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    Online Resource
    A set of matrices to map the location of profit and economic activity of multinational enterprises (2020)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (66 p.)
    Series Statement: OECD Taxation Working Papers no.52
    Keywords: Finance and Investment ; Taxation ; Economics
    Abstract: This paper describes the methodology and data sources used to build a set of matrices mapping the location of profit and economic activity of multinational enterprises (MNEs) across jurisdictions. These matrices were originally designed for the purpose of assessing the effect of proposals for the reform of international corporate tax arrangements under consideration by the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS). They could also serve other analytical purposes in the future. The set consists of a profit matrix and three matrices focusing on indicators of economic activity (turnover, tangible assets and payroll). Each matrix contains data spanning more than 200 jurisdictions (matrix rows) and broken down across more than 200 jurisdictions of MNE ultimate parent (matrix columns), focusing primarily on year 2016. The matrices combine data from a range of sources in a consistent framework, including newly available aggregated Country-by-Country Report (CbCR) data, the ORBIS database, and the OECD Analytical AMNE database. Gaps in data are filled using extrapolations based on macroeconomic data, including via a sophisticated procedure to extrapolate profit based on foreign direct investment (FDI) data. Extensive benchmarking has been undertaken to ensure consistency across the data sources and extrapolations used in the matrices.
    DOI: 10.1787/4ec98acc-en
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 3
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    Population ageing and government revenue : Expected trends and policy considerations to boost revenue (2022)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (56 p.) , 21 x 28cm.
    Series Statement: OECD Economics Department Working Papers no.1737
    Keywords: Economics
    Abstract: Population ageing is expected to result in significantly higher government spending in many OECD countries in the coming decades. This paper sheds light on the macroeconomic consequences of population ageing for government revenue in a framework consistent with the OECD long-term model. If the labour and capital income shares in GDP remain constant and pension income increases in relation to GDP, the tax revenue-to-GDP ratio will increase slightly. However, this will not be enough to cover the total increase in government spending due to population ageing. If governments do not mitigate spending pressures by structural reforms or cuts in pension entitlements, they will have to boost tax revenue significantly to prevent public debt from expanding. In many countries, it will not be possible, nor advisable, to completely finance the increase in long-term spending with only one tax instrument as it would require a massive rise in the tax rate, with risks of ensuing distortions. Thus, governments will have to choose mixes of tax increases, accounting for growth, equity and political considerations. This paper reviews these considerations for several specific tax categories.
    DOI: 10.1787/9ce9e8e3-en
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 4
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    Constraints and demands on public finances: Considerations of resilient fiscal policy (2021)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (71 p.) , 21 x 28cm.
    Series Statement: OECD Economics Department Working Papers no.1694
    Keywords: Economics
    Abstract: Over the past several decades, public debt has increased substantially in many OECD countries, particularly in the aftermath of recessions. The extent of this increase and the resulting debt levels varied across countries, partly reflecting differences in average budget balances. Despite rising debt, governments’ interest payments as a share of GDP have declined, reducing concerns about debt sustainability. Still, high debt levels make public finances vulnerable to negative shocks. Thus, governments will have to balance the need to minimise the risk of fiscal stress and the need to satisfy growing demands on public finances related to population ageing, climate change, low growth, inequalities, accelerated digitalisation and cyclical demand stabilisation. Limitations of various numerical indicators of debt sustainability give some support to a more qualitative assessment of fiscal policy and stress the importance of effective and resilient fiscal frameworks. Credible and transparent fiscal frameworks can help make appropriate policy choices, which are affected by numerous political biases and constraints. However, such frameworks do not guarantee positive outcomes. Further research on interactions between various elements of such frameworks, such as fiscal rules, medium‑term expenditure plans, budget transparency and independent fiscal institutions, is needed.
    DOI: 10.1787/602500be-en
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 5
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    The green side of productivity : An international classification of green and brown occupations (2023)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (36 p.) , 21 x 28cm.
    Series Statement: OECD Productivity Working Papers no.33
    Keywords: Science and Technology ; Economics
    Abstract: This paper describes the methodology used for crosswalking occupation-based measures of Green (“environmentally friendly”) and Brown (“polluting”) jobs from the Standard Occupational Classification (SOC) system to the International Standard Occupation Classification (ISCO) 08 at the most detailed (4-digit) level. The original, task-based Greenness scores by Vona et al. (2018) are provided at the 8-digit SOC level, and the industry-based Brownness measures are provided in 6-digit SOC. Crosswalking these measures requires several choices in terms of weighting and aggregating, which this paper describes in detail. The robustness of the resulting measures to the different weighting options and underlying assumption is tested using Linked Employer-Employee data from Portugal. An empirical application to the Productivity-Greenness link at the firm level shows the robustness of this link to different weighting choices, and confirms that all of the different measures derived are consistent in measuring the Greenness of jobs.
    DOI: 10.1787/a363530f-en
    URL: lizenzpflichtig
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    MPI Ethno. Forsch.
  • 6
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    How does corporate taxation affect business investment? : Evidence from aggregate and firm-level data (2023)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (61 p.) , 21 x 28cm.
    Series Statement: OECD Economics Department Working Papers no.1765
    Keywords: Economics ; Taxation
    Abstract: Business investment in OECD countries has remained weak, in particular since the 2008 global financial crisis. At the same time, the cost of capital has significantly and steadily decreased over the last thirty years, reflecting a fall in both interest rates and corporate tax rates. This raises the question of whether business investment still responds to the cost of capital and thus whether corporate tax policy can support investment. This paper analyses trends in business investment and in the cost of capital in OECD countries over the past three decades. Then, it investigates empirically the sensitivity of business investment to corporate taxation, and how this sensitivity varies across firm, investment and tax-design characteristics. Panel regressions at the firm and industry levels confirm that business investment rates are negatively related to corporate taxation, measured by country-level forward-looking effective tax rates. However, the tax sensitivity of business investment has fallen significantly since the global financial crisis. It also differs significantly across firms, assets, and corporate tax design characteristics. Overall, the estimation results suggest that a nuanced and granular approach to corporate tax policy, accounting for heterogeneity in tax sensitivity, is needed to support investment effectively. The paper discusses possible policy options, including the reduction of non-profit taxes, the use of targeted corporate income tax instruments, and the use of more generous capital allowances where they may induce strong investment responses.
    DOI: 10.1787/04e682d7-en
    URL: lizenzpflichtig
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