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  • 1
    Online-Ressource
    Online-Ressource
    Corporate taxation and investment of multinational firms : Evidence from firm-level data (2020)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (32 p.)
    Serie: OECD Taxation Working Papers no.51
    Schlagwort(e): Finance and Investment ; Taxation ; Economics
    Kurzfassung: 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
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 2
    Online-Ressource
    Online-Ressource
    A set of matrices to map the location of profit and economic activity of multinational enterprises (2020)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (66 p.)
    Serie: OECD Taxation Working Papers no.52
    Schlagwort(e): Finance and Investment ; Taxation ; Economics
    Kurzfassung: 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
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 3
    Online-Ressource
    Online-Ressource
    Tax planning by multinational firms : firm-level evidence from a crosscountry database (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 64 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1355
    Schlagwort(e): Multinationales Unternehmen ; Unternehmensbesteuerung ; Steuerplanung ; Steuerrecht ; OECD-Staaten ; G20-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/9ea89b4d-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 4
    Online-Ressource
    Online-Ressource
    Anti-avoidance rules against international tax planning : a classification (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 17 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1356
    Schlagwort(e): Multinationales Unternehmen ; Unternehmensbesteuerung ; Steuerplanung ; Steuerrecht ; Klassifikation ; OECD-Staaten ; G20-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/1a16e9a4-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 5
    Online-Ressource
    Online-Ressource
    Debt and tax planning by multinationals (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 28 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1357
    Schlagwort(e): Verbindlichkeiten ; Kapitalstruktur ; Multinationales Unternehmen ; Steuerplanung ; Eigenkapital ; OECD-Staaten ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/b524037b-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
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  • 6
    Online-Ressource
    Online-Ressource
    Innovation, patent location and tax planning by multinationals (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 27 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1360
    Schlagwort(e): 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
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/b08459e5-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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    Online-Ressource
    MPI Ethno. Forsch.
  • 7
    Online-Ressource
    Online-Ressource
    International tax planning, competition and market structure (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 26 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1358
    Schlagwort(e): Multinationales Unternehmen ; Steuerplanung ; Wettbewerb ; Verdrängungseffekt ; Unternehmensbesteuerung ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/e9c35474-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
    Bibliothek Standort Signatur Band/Heft/Jahr Verfügbarkeit
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  • 8
    Online-Ressource
    Online-Ressource
    International tax planning and fixed investmen (2017)
    Paris : OECD Publishing
    Details
    Sprache: Englisch
    Seiten: 1 Online-Ressource (circa 21 Seiten) , Illustrationen
    Serie: OECD Economics Department working papers no. 1361
    Schlagwort(e): Multinationales Unternehmen ; Unternehmensbesteuerung ; Investitionsentscheidung ; Steuerplanung ; Steuerrecht ; Welt ; Finance and Investment ; Taxation ; Economics ; Amtsdruckschrift ; Arbeitspapier ; Graue Literatur
    Kurzfassung: 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.
    Anmerkung: Zusammenfassung in französischer Sprache
    DOI: 10.1787/83239540-en
    URL: Volltext
    URL: Volltext
    URL: lizenzpflichtig
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