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Taxing multinationals beyond borders: financial and locational responses to CFC rules

Abstract:

Using a large panel dataset on worldwide operations of multinational firms, this paper studies one of the most advocated anti-tax-avoidance measures: Controlled Foreign Corporation rules. By including income of foreign low-tax subsidiaries in the domestic tax base, these rules create incentives for multinationals to move income away from low-tax environments. Exploiting variation around the tax threshold used to identify low-tax subsidiaries, we find that multinationals redirect profits into ...

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Publication status:
Published
Peer review status:
Peer reviewed

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Publisher copy:
10.1016/j.jpubeco.2019.01.010

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Institution:
University of Oxford
Department:
Economics
Oxford college:
Nuffield College
Role:
Author
Publisher:
Elsevier
Journal:
Journal of Public Economics More from this journal
Volume:
173
Issue:
2019
Pages:
44-71
Publication date:
2019-03-16
Acceptance date:
2019-01-16
DOI:
ISSN:
0047-2727
Language:
English
Keywords:
Pubs id:
pubs:938148
UUID:
uuid:f82e2e0b-9a78-459f-9983-c48bcfe4b462
Local pid:
pubs:938148
Source identifiers:
938148
Deposit date:
2019-04-02

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