Language:
English
Pages:
1 Online-Ressource (76 pages)
Parallel Title:
Erscheint auch als Keen, Michael International Tax Spillovers and Tangible Investment, with Implications for the Global Minimum Tax
Keywords:
Foreign Direct Investment
;
Global Minimum Tax
;
International Tax
;
Macroeconomics and Economic Growth, Foreign Direct Investment, Corporate Taxation
;
Multinational Investment
;
Tax Competition
;
Corporate Taxation
;
Foreign Direct Investment
;
Global Minimum Tax
;
International Tax
;
Multinational Investment
;
Tax Competition
Abstract:
This paper articulates and, using newly-assembled data, explores how international taxation affects aggregate tangible cross-border investment. Spillovers from statutory tax rates abroad seem: As sizable as effects from the host's rate; larger than previous consensus values (attributed to a systematic bias from FDI data); and consistent with 'implicit' profit shifting through real investment (rather than 'paper' profit shifting). Contrary to much policy discussion, the results also imply that: Host countries' marginal effective tax rates have at best a weak effect on real investment; those elsewhere have none; and, applied to the prospective global minimum tax, inward tangible investment in most sample countries will increase
DOI:
10.1596/1813-9450-10427
