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Home Or Away? Profit Shifting with Territorial Taxation
In 2009, the United Kingdom abolished the taxation of profits earned abroad and introduced a territorial tax system. Under the territorial system, firms have strong incentives to shift profits abroad. Using a difference-in-differences research design, we show that the profitability of UK subsidiaries in low-tax countries increased after the reform compared to subsidiaries of non-UK multinationals in the same countries by an average of 2 percentage points. This increase in profit shifting also leads to increases in measured productivity of the foreign affiliates of UK multinationals of between 5 and 9 percent.
Tax and Government in the 21st Century
A broad, accessible, evidence-based analysis of tax law and how democratic tax states are confronting today's global digital challenges.
The demolition
The world is facing a crisis of unimagined proportions. Climate collapse and Corona are presenting us with challenges that could not even have been imagined just a few years ago. Terms like "debt brake" or "black zero" seem out of time. While the world is hunting for a vaccine, long suppressed grievances suddenly become visible. We are accustomed to a world of waste and prosperity and hardly notice that in Germany eight percent of farms manage more than half of all agricultural land and thus also collect the lion's share of EU subsidies. Unequal distribution of wealth and the devaluation of savings play into the hands of the political elites and produce ever greater dependencies.
The Industrial Organization of Banking
This book provides an evaluation of the industrial organization of banking with a focus on the interrelationship among bank behavior, market structure, and regulation. It addresses a wide range of public policy topics, including bank competition and risk, international banking, antitrust issues, and capital regulation. New to this edition, which has been updated throughout, is a broadened consideration of alternative theories of competition among banks, which includes discussions of such issues as the implications of large increases in bank reserve holdings in recent years, effects of nonprice competition through quality rivalry, analysis of mixed market structures involving both large and small banks, and international interactions of banks and policymakers. The intent of the book is to serve as a learning tool and reference for graduate students, academics, bankers, and policymakers seeking to better understand the industrial organization of the banking sector and the effects of banking regulations.
Limiting Profit Shifting in a Model with Heterogeneous Firm Productivity
This paper analyzes measures that limit firms' profit shifting activities in a model that incorporates heterogeneous firm productivity and monopolistic competition. Such measures, e.g. thin capitalization rules, have become increasingly widespread as governments have reacted to growing profit shifting activities of multinational companies. However, besides limiting profit shifting, such rules entail costs. As the regulations can only focus on the means to shift profits, not on profit shifting itself, they impose costs on all firms, no matter whether these firms shift profits abroad or not. In the model, these costs force some firms to exit the market. Thus, as this makes the remaining firms more profitable, regulations to limit profit shifting may even increase the aggregate amount of profits shifted abroad. From a welfare point of view, it may even be optimal no to limit profit shifting at all. -- profit shifting ; heterogeneous firms ; tax competition.
Banking on Failure
This book explains why and how banks game the system. It accounts for why banks are so often involved in cases of misconduct, and why those cases often involve the exploitation of tax systems.
How to Tax Wealth
Tackling income and wealth inequality is at the top of the policy agenda in many countries. This note discusses three approaches of wealth taxation, based on (1) returns with a capital income tax, (2) stocks with a wealth tax, and (3) transfers of wealth through an inheritance (or estate) tax. Taxing actual returns is generally less distortive and more equitable than a wealth tax. Hence, rather than introducing wealth taxes, reform priorities should focus on strengthening the design of capital income taxes (notably capital gains) and closing existing loopholes, while harnessing technological advances in tax administration—including cross-border information sharing—to foster tax compliance. The inheritance tax is important to address the buildup of dynastic wealth.
ÖRTÜLÜ SERMAYE TEORİ VE AÇIKLAMALARLA
(Teorik Açıklamalar – Uygulamalı Soru ve Cevaplar) OECD Yaklaşımı Örnek Ülke Uygulamaları Ülkemiz Uygulaması Öz Sermaye Faizleri Çözümlü Sorular “Bu aslında benim zeki olduğumu gösterir”- Donald Trump Amerika Birleşik Devletleri’nin 45’inci başkanı Donald Trump tarafından, başkanlık seçimlerindeki rakibi Hillary Clinton’ın, kendisi için federal gelir vergisi ödemediği iddiasına vermiş olduğu bu cevap, vergi ödememenin her zaman bir ahlaksızlık olmadığını göstermesi bakımından anlamlıdır. Gerçekten de, vergi ödemenin bir sosyal sorumluluk olduğu anlayışı ilk bakışta, vergi ödememenin de toplum nezdinde gayri ahlaki bir tutum gi...
Fiscal Monitor, April 2022
Chapter 1 discusses how fiscal policy operates amid a sharp rise in uncertainty caused by the war in Ukraine. Chapter 2 discusses how international coordination on tax matters can support revenue, inclusion, tax transparency, and greener economies.
