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| Author | : Sonja Lynne Olhoft |
| Publisher | : |
| Total Pages | : 224 |
| Release | : 1999 |
| Genre | : Business planning |
| ISBN | : |
| Author | : Sonja O. Rego |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2014 |
| Genre | : |
| ISBN | : |
This paper investigates whether economies of scale exist for tax planning. In particular, do larger, more profitable, multinational corporations avoid more taxes than other firms, resulting in lower effective tax rates? While the empirical results indicate that ceteris paribus, larger corporations have higher effective tax rates, firms with greater pre-tax income have lower effective tax rates. The negative relation between ETRs and pre-tax income is consistent with firms with greater pre-tax income having more incentives and resources to engage in tax planning. Consistent with multinational corporations being able to avoid income taxes that domestic-only companies cannot, I find that multinational corporations in general, and multinational corporations with more extensive foreign operations, have lower worldwide ETRs than other firms. Finally, in a sample of multinational corporations only, I find that higher levels of U.S. pre-tax income are associated with lower U.S. and foreign ETRs, while higher levels of foreign pre-tax income are associated with higher U.S. and foreign ETRs. Thus, large amounts of foreign income are associated with higher corporate tax burdens. Overall, I find substantial evidence of economies of scale to tax planning.
| Author | : Martin Feldstein |
| Publisher | : University of Chicago Press |
| Total Pages | : 338 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226241874 |
The tax rules of the United States and other countries have intended and unintended effects on the operations of multinational corporations, influencing everything from the formation and allocation of capital to competitive strategies. The growing importance of international business has led economists to reconsider whether current systems of taxing international income are viable in a world of significant capital market integration and global commercial competition. In an attempt to quantify the effect of tax policy on international investment choices, this volume presents in-depth analyses of the interaction of international tax rules and the investment decisions of multinational enterprises. Ten papers assess the role played by multinational firms and their investment in the U.S. economy and the design of international tax rules for multinational investment; analyze channels through which international tax rules affect the costs of international business activities; and examine ways in which international tax rules affect financing decisions of multinational firms. As a group, the papers demonstrate that international tax rules have significant effects on firms' investment and other financing decisions.
| Author | : Sebastian Beer |
| Publisher | : International Monetary Fund |
| Total Pages | : 45 |
| Release | : 2018-07-23 |
| Genre | : Business & Economics |
| ISBN | : 1484370538 |
This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, on average, a 1 percentage-point lower corporate tax rate will expand before-tax income by 1 percent—an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research.
| Author | : Joel Slemrod |
| Publisher | : Springer |
| Total Pages | : 158 |
| Release | : 2011-09-28 |
| Genre | : Business & Economics |
| ISBN | : 9789401073103 |
The six papers in this vohune represent state-of-the-art empirical and conceptual research on various aspects of the taxation of multinational corporations. They were commissioned for and presented at a conference organized by Price Waterhouse LLP on behalf of the International Tax Policy Forum, held in Washington, DC in March, 1994. The ftrst four papers were originally published in the May, 1995 issue of International Tax and Public Finance. The Slemrod paper appeared in the Policy Watch Section of the November, 1995 issue of that journal. The foregoing papers were subject to the normal refereeing procedures of the journal, and the summaries that follow are drawn from there. The Leamer paper has not been previously published. Altshuler and Mintz examine one aspect of the 1986 u. s. Tax Reform Act --the change in the rules for the allocation of interest expense between domestic-(U. S. ) and foreign-source income. In the absence of rules, a parent with excess credits could reduce U. S. tax liability by allocating interest expense toward itself; thus reducing its taxable domestic income without any compensating increase in either the U. S. tax due on foreign-source income or the foreign tax due (which is independent of U. S. rules).
| Author | : Martin Feldstein |
| Publisher | : University of Chicago Press |
| Total Pages | : 126 |
| Release | : 2007-12-01 |
| Genre | : Business & Economics |
| ISBN | : 0226241882 |
In the increasingly global business environment of the 1990s, policymakers and executives of multinational corporations must make informed decisions based on a sound knowledge of U.S. and foreign tax policy. Written for a nontechnical audience, Taxing Multinational Corporations summarizes the up-to-the-minute research on the structure and effects of tax policies collected in The Effects of Taxation on Multinational Corporations. The book covers such practical issues as the impact of tax law on U.S. competitiveness, the volume and location of research and development spending, the extent of foreign direct investment, and the financial practices of multinational companies. In ten succinct chapters, the book documents the channels through which tax policy in the United States and abroad affects plant and equipment investments, spending on research and development, the cost of debt and equity finance, and dividend repatriations by United States subsidiaries. It also discusses the impact of U.S. firms' outbound foreign investment on domestic and foreign economies. Especially useful to nonspecialists is an appendix that summarizes current United States rules for taxing international income.
| Author | : United States. Congress. Senate. Committee on Governmental Affairs |
| Publisher | : |
| Total Pages | : 462 |
| Release | : 1993 |
| Genre | : Corporations, Foreign |
| ISBN | : |
| Author | : Mihir A. Desai |
| Publisher | : |
| Total Pages | : |
| Release | : 2009 |
| Genre | : |
| ISBN | : |
In order to suggest new foundations for the taxation of multinational corporations, this paper revisits the legislative foundations for much of the international tax regime and distills the lessons of recent economic research. The review of the Revenue Act of 1962 suggests that the international provisions that remain today were the result of a political miscalculation, were targeted at transient concerns, and were expanded well beyond their original scope as the result of administrative complexities. Evidence from the 1960s and 1990s is also suggestive of the fact that anti-deferral provisions may foster the tax avoidance and tax haven activities that they seek to combat. Recent research on the growing role of non-income taxes, the interactions between tax systems and corporate governance and new welfare benchmarks that arise from viewing FDI as being associated with productivity differences all recommend alternative rules for taxing the activities of U.S. multinational firms than are currently in place.
| Author | : James R. Hines |
| Publisher | : Brookings Institution Press |
| Total Pages | : 585 |
| Release | : 2021-04-20 |
| Genre | : Business & Economics |
| ISBN | : 0815738560 |
How multinationals contribute, or don't, to global prosperity Globalization and multinational corporations have long seemed partners in the enterprise of economic growth: globalization-led prosperity was the goal, and giant corporations spanning the globe would help achieve it. In recent years, however, the notion that all economies, both developed and developing, can prosper from globalization has been called into question by political figures and has fueled a populist backlash around the world against globalization and the corporations that made it possible. In an effort to elevate the sometimes contentious public debate over the conduct and operation of multinational corporations, this edited volume examines key questions about their role, both in their home countries and in the rest of the world where they do business. Is their multinational nature an essential driver of their profits? Do U.S. and European multinationals contribute to home country employment? Do multinational firms exploit foreign workers? How do multinationals influence foreign policy? How will the rise of the digital economy and digital trade in services affect multinationals? In addressing these and similar questions, the book also examines the role that multinational corporations play in the outcomes that policymakers care about most: economic growth, jobs, inequality, and tax fairness.
| Author | : United States Government Accountability Office |
| Publisher | : Createspace Independent Publishing Platform |
| Total Pages | : 52 |
| Release | : 2018-03-16 |
| Genre | : |
| ISBN | : 9781983908323 |
U.S. Multinational Corporations: Effective Tax Rates Are Correlated with Where Income Is Reported
