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Global Profit Shifting, 1975-2019
SSRN Electronic Journal, 2022This paper constructs time series of global profit shifting covering the 2015-19 period, during which major international efforts were implemented to curb profit shifting. We find that (i) multinational profits grew faster than global profits, (ii) the share of multinational profits booked in tax havens remained constant at around 37 per cent, and (iii)
Wier, Ludvig, Zucman, Gabriel
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Profit shifting of U.S. multinationals
Journal of Public Economics, 2016We analyze the profit shifting behavior of U.S. multinational firms using a unique panel data set of U.S. tax returns over the period 2002-2012. Prior research has found significant effects of tax rates in affiliate and parent countries on the profit shifting behavior of multinational entities, with semi-elasticities ranging from close to zero to well ...
Tim Dowd, Paul Landefeld, Anne Moore
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The Distribution of Profit Shifting
By focusing exclusively on large multinational groups, the global minimum tax (GMT) aims to target most of the world's profit shifting while keeping aggregate compliance costs at an acceptable level. This policy brief presents new evidence on profit shifting behavior across the size distribution of multinational enterprises (MNEs) to study whether the ...Clifford, Sarah +2 more
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Profit Shifting and the United Kingdom
International Transfer Pricing Journal, 2015The Finance Bill 2014 enacted new legislation on so-called “profit transfers” and on certain other specific transactions. One thing that these have in common is that they may cut straight across the application of the arm’s length principle. Certainly, they have the potential to do so.
A. Casley, S. Wlazlowski, S. Wood
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2019
Abstract This chapter focuses on the role of states in actively procuring profit shifting across borders. The effects of global profit shifting and the associated revenue losses suffered by countries at every income level can be attributed to those jurisdictions that procure the majority of global profit shifting.
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Abstract This chapter focuses on the role of states in actively procuring profit shifting across borders. The effects of global profit shifting and the associated revenue losses suffered by countries at every income level can be attributed to those jurisdictions that procure the majority of global profit shifting.
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Profit Shifting during Foreign Tax Holidays
The Accounting Review, 2020ABSTRACT We undertake the first empirical analysis of profit shifting by U.S. firms during foreign tax holidays. We show that foreign tax holidays have become a prevalent and powerful tax planning strategy among U.S. firms. We find that U.S.
Travis K. Chow +2 more
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Profit Shifting in a Globalized World
AEA Papers and Proceedings, 2019This paper briefly reviews the measurement of the magnitude of profit shifting by multinational firms. Highlighting differences between estimates using microeconomic and macroeconomic approaches, it sketches a conceptual framework that can help explain these divergent estimates.
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Profit Shifting and Tax Uncertainty
SSRN Electronic Journal, 2016We demonstrate the importance for the potency of profit shifting activity of risk factors related to macroeconomic and fiscal stability in countries where multinational subsidiaries reside. Using firm-level data for 1,241 parent firms from 24 countries and 12,698 subsidiaries in 43 countries, we first identify prevalent profit-shifting in periods (or ...
Manthos D. Delis +2 more
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SSRN Electronic Journal, 2019
This research note describes the plausible magnitude of US revenue loss due to profit shifting, building on recent developments in the literature as well as new country-by-country data on US multinational companies in 2017. In the past, the most complete data sources have all shown large magnitudes of profit shifting, suggesting substantial revenue ...
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This research note describes the plausible magnitude of US revenue loss due to profit shifting, building on recent developments in the literature as well as new country-by-country data on US multinational companies in 2017. In the past, the most complete data sources have all shown large magnitudes of profit shifting, suggesting substantial revenue ...
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Base Erosion and Profit Shifting
2016BEPS is an acronym for “base erosion and profit shifting” and refers to tax planning strategies that exploit gaps and mismatches in tax rules to make profits “disappear” for tax purposes or to shift profits to locations where there is little or no real activity but the taxes are low, resulting in little or no overall corporate tax being paid ...
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