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  • 1
    Online Resource
    Online Resource
    Innovation, patent location and tax planning by multinationals (2017)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 27 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1360
    Keywords: Multinationales Unternehmen ; Unternehmensbesteuerung ; Innovationsmanagement ; IP-Management ; Steuerplanung ; Steuerrecht ; OECD-Staaten ; G20-Staaten ; BEPS, multinational enterprises, tax planning, patents, corporate taxation, research and development ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper assesses the effect of international differences in taxes on the choice of patent location by multinational enterprises (MNEs). The analysis is based on a large sample of patents and firms from the OECD-PATSTAT and OECD-ORBIS databases over 2004-10. The approach is to compare the number of patent applications of MNE entities with different links to other countries and thus different sets of location choices, while controlling for other factors affecting patenting behaviour. The results suggest that lower corporate taxes, either in the form of a lower statutory rate or a preferential intellectual property regime, are associated with more patent applications. Both the location of research activities, which is proxied by the location of patent inventors, and the legal ownership of patents are found to be sensitive to corporate taxes. For instance, a 5 percentage point cut in the preferential tax rate on patent income is associated with a 6% increase in patent applications. On average, about two-thirds of the increase comes from patents invented at home and one third from patents invented abroad, but the relative importance of these two effects is likely to vary with the design of the preferential regime and especially the existence of activity requirements. In addition, strong anti-avoidance measures against tax planning are found to reduce patent shifting by MNEs.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/b08459e5-en
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  • 2
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    Online Resource
    International tax planning and fixed investmen (2017)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 21 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1361
    Keywords: Multinationales Unternehmen ; Unternehmensbesteuerung ; Investitionsentscheidung ; Steuerplanung ; Steuerrecht ; Welt ; Finance and Investment ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper assesses how international tax planning affects real business investment by multinationals. Earlier studies have shown that corporate taxes reduce business investment. This paper shows that tax planning multinationals are less sensitive to corporate taxes than other firms in their investment decisions. This is presumably because tax planning multinationals do not face the full tax burden associated with their investments, since they shift part of the resulting profits to lower-tax rate countries. On average across industries, a 5 percentage point corporate tax rate increase is found to reduce investment by 5% in the long term. In industries with a strong presence of multinationals with profit-shifting opportunities, this effect is halved. These results obtained with industry-level data are confirmed by a firm-level analysis. Consistently with these results, the investment of tax planning multinationals is found to be more sensitive to taxes when strong rules against tax planning are in place.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/83239540-en
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  • 3
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    Debt and tax planning by multinationals (2017)
    Paris : OECD Publishing
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    Language: English
    Pages: 1 Online-Ressource (circa 28 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1357
    Keywords: Verbindlichkeiten ; Kapitalstruktur ; Multinationales Unternehmen ; Steuerplanung ; Eigenkapital ; OECD-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: Multinational enterprises (MNEs) manipulate the location of their debts to reduce their corporate tax burden. Indeed, by locating debts in higher-tax rate countries, MNEs can deduct interest payments against a higher tax rate. This paper provides evidence of such manipulation of debt location. The analysis is based on a large sample of firm-level data from the ORBIS database. By comparing the indebtedness of MNE entities with similar characteristics but different debt shifting opportunities, the analysis suggests that a 1 percentage point higher tax rate is associated with 1.3% higher third-party debt. This is a lower bound estimate of debt manipulation, since it excludes the manipulation of internal debt. The analysis also shows that strict rules limiting interest deductibility (e.g. thin capitalisation or interest-to-earnings rules) can reduce debt manipulation. The possibility to locate debts in higher-tax rate countries reduces the effective cost of debt for MNE groups. The empirical analysis suggests that this can lead MNE groups to increase their overall external indebtedness, compounding the “debt bias” existing in most tax systems.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/b524037b-en
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  • 4
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    Tax planning by multinational firms : firm-level evidence from a crosscountry database (2017)
    Paris : OECD Publishing
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    Language: English
    Pages: 1 Online-Ressource (circa 64 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1355
    Keywords: Multinationales Unternehmen ; Unternehmensbesteuerung ; Steuerplanung ; Steuerrecht ; OECD-Staaten ; G20-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper exploits firm-level data from the ORBIS database to assess international tax planning by multinational enterprises (MNEs). Profit shifting to lower-tax rate countries is measured by comparing the profitability of MNE entities having different links to countries with different tax rates and thus different profit shifting opportunities. The paper also considers other aspects of tax planning that have been less documented in the empirical literature, such as the exploitation of mismatches between tax systems and preferential tax regimes, by comparing how profits reported by MNE entities are taxed relative to non-multinational entities with similar characteristics. The analysis builds on available unconsolidated financial account data, which, despite its limitations, is considered as the best existing cross-country firm-level data. Results are based on a very large sample of firms (1.2 million observations of MNE accounts) in 46 OECD and G20 countries and a sophisticated procedure to identify MNE groups. They provide robust evidence that MNEs shift profits to lower-tax rate countries and that large MNEs also exploit mismatches between tax systems and preferential tax treatment to reduce their tax burden. Overall, the estimated net tax revenue loss ranges from 4% to 10% of global corporate tax revenues. The empirical analysis also shows that strong “anti-avoidance” rules against tax planning are associated with reduced profit shifting, but also higher compliance costs for firms.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/9ea89b4d-en
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  • 5
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    Anti-avoidance rules against international tax planning : a classification (2017)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 17 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1356
    Keywords: Multinationales Unternehmen ; Unternehmensbesteuerung ; Steuerplanung ; Steuerrecht ; Klassifikation ; OECD-Staaten ; G20-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper describes the main anti-avoidance rules against international tax planning by multinational enterprises in OECD and G20 countries. Building on this information and on previous classification efforts in the literature, a new classification of anti-avoidance strength is compiled. It takes into account five key dimensions of anti-avoidance: (i) transfer price rules and documentation requirements; (ii) rules on interest deductibility such as thin capitalisation and interest-to-earnings rules to prevent the manipulation of debt location; (iii) controlled foreign company (CFC) rules; (iv) general anti-avoidance rules (GAARs); and (v) withholding taxes on interest payments, royalties and dividends, taking into account bilateral tax treaties. The classification is based on a simple framework aiming to capture the main features of anti-avoidance rules in a harmonised way across countries, although it inevitably leaves aside certain country-specific characteristics as well as the enforcement of existing rules. The empirical analysis in Johansson et al., (2016), which is based on this classification, suggests that strong anti-avoidance rules can reduce profit shifting.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/1a16e9a4-en
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  • 6
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    International tax planning, competition and market structure (2017)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 26 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1358
    Keywords: Multinationales Unternehmen ; Steuerplanung ; Wettbewerb ; Verdrängungseffekt ; Unternehmensbesteuerung ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper investigates if tax planning by large multinationals distorts competition in their favour and allows them to crowd out other firms. The competitive implications of tax planning are frequently mentioned in the tax policy debate, but not yet documented empirically to our knowledge. This paper aims to fill this gap. Drawing on firm-level data from the ORBIS database, it compares price-cost mark-up rates of firms with different tax planning opportunities, using several proxy measures of these opportunities, such as links to tax havens. Tax-planning multinationals are found to have higher mark-up rates than other firms, even after controlling for other factors influencing mark-ups. However, the direction of causality is difficult to establish since a high mark-up can be a factor encouraging a firm to engage in tax planning. Based on a new indicator of industry concentration, the empirical analysis also shows that industries with a strong presence of tax-planning multinationals tend to be more concentrated than other industries, but less so when strong rules against tax planning are in place. Overall, the results support the hypothesis that large multinationals use their tax savings to crowd out other firms and ultimately obtain higher mark-ups.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/e9c35474-en
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  • 7
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    Public finance, economic growth and inequality : a survey of the evidence (2016)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 37 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1346
    Keywords: Öffentliche Ausgaben ; Besteuerungsprinzip ; Wirtschaftswachstum ; Soziale Ungleichheit ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper reviews the key issues concerning the impact of public spending and taxation on long-run growth and inequality and takes stock of existing theoretical and empirical studies. Overall, the evidence highlights that the size of the government matters for long-term growth as a too large government may undermine growth through the cost of financing public spending. A reallocation of public spending towards infrastructure and education would raise income in the long run, whereas increasing social welfare spending can reduce inequality as such spending increases redistribution and risk sharing. Similarly, the available evidence also supports the hypothesis that some taxes are more distortionary than others, with income taxes found to be more harmful for growth than consumption and property taxes. However, a tax shift from income towards consumption taxes has equity implications, since income taxes are generally more progressive than other taxes. The effect of a reallocation of spending and taxes on growth and inequality likely varies across countries depending on country characteristics.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/094bdaa5-en
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  • 8
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    The effect of the size and the mix of public spending on growth and inequality (2016)
    Paris : OECD Publishing
    Details
    Language: English
    Pages: 1 Online-Ressource (circa 55 Seiten) , Illustrationen
    Series Statement: OECD Economics Department working papers no. 1344
    Keywords: Öffentliche Ausgaben ; Wirtschaftswachstum ; Soziale Ungleichheit ; Wirkungsanalyse ; OECD-Staaten ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Abstract: This paper provides evidence on the effects of the size and the composition of public spending on long-term growth and inequality. An estimated baseline convergence model captures the long-term effect of human capital and total investment on potential output for a panel of OECD countries. The composition of public spending added to this baseline provides evidence that certain public spending items (public investment and education) boost potential growth, while others (pensions and public subsidies) lower potential growth. There is also evidence that too large governments reduce potential growth, unless the functioning of government is highly effective. This paper also investigates the effect of public spending items on income inequality. Increasing the size of government, family benefits or subsidies decreases inequality. Reforms making the government more effective and an education reform that aims at encouraging completion of secondary education may also decrease income inequality. Simulations combining both growth and distributional effects illustrate that most reforms can deliver considerable growth gains and benefit the poor.
    Note: Zusammenfassung in französischer Sprache
    DOI: 10.1787/f99f6b36-en
    URL: Volltext
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  • 9
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    Trade patterns in the 2060 world economy (2015)
    Paris : OECD Publishing
    In:  OECD Journal: Economic Studies Vol. 2015, no. 1, p. 67-100 | volume:2015 | year:2015 | number:1 | pages:67-100
    Details
    Language: English
    Pages: 1 Online-Ressource (34 p.) , 21 x 28cm.
    Titel der Quelle: OECD Journal: Economic Studies
    Angaben zur Quelle: Vol. 2015, no. 1, p. 67-100
    Angaben zur Quelle: volume:2015
    Angaben zur Quelle: year:2015
    Angaben zur Quelle: number:1
    Angaben zur Quelle: pages:67-100
    Keywords: Economics
    Abstract: This paper presents long-term trade scenarios for the world economy up to 2060 based on a modelling approach that combines aggregate growth projections for the world with a detailed computable general equilibrium sectoral trade model. The analysis suggests that over the next 50 years, the geographical centre of trade will continue to shift from OECD to non-OECD regions reflecting faster growth in non-OECD countries. The relative importance of different regions in specific export markets is set to change markedly over the next half century with emerging economies gaining export shares in manufacturing and services. Trade liberalisation, including gradual removal of tariffs, regulatory barriers in services and agricultural support, as well as a reduction in transaction costs on goods, could increase global trade and GDP over the next 50 years. Specific scenarios of regional liberalisation among a core group of OECD countries or partial multilateral liberalisation could, respectively, raise trade by 4% and 15% and GDP by 0.6% and 2.8% by 2060 relative to the status quo. Finally, the model highlights that investment in education has an influence on trade and high-skill specialisation patterns over the coming decades. Slower educational upgrading in key emerging economies than expected in the baseline scenario could reduce world exports by 2% by 2060. Lower up-skilling in emerging economies would also slow down the restructuring towards higher value-added activities in these emerging economies. JEL classification codes: E23, E27, F02, F17, F47 Keywords: General equilibrium trade model, long-term trade and specialisation patterns, trade liberalisation
    DOI: 10.1787/eco_studies-2015-5jrs63llqgjl
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