Multinational Firms and Tax Havens

• 成果类型: Article
• 署名作者: Gumpert, Anna; Hines, James R., Jr.; Schnitzer, Monika
• 署名单位: University of Munich; Leibniz Association; Ifo Institut; University of Michigan System; University of Michigan; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR)
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/REST_a_00591
• 发表日期: 2016-10
• 页码: 713-727
• 关键词: corporate-taxation; intrafirm trade; PERSPECTIVE; CHOICE

摘要

Multinational firms with operations in high-tax countries can benefit the most from reallocating taxable income to tax havens, though this is sufficiently difficult and costly that only 20.4% of German multinational firms have any tax haven affiliates. Among German manufacturing firms, a 1 percentage point higher foreign tax rate is associated with a 2.3% greater likelihood of owning a tax haven affiliate. This is consistent with tax avoidance incentives and contrasts with earlier evidence for U.S. firms. The relationship is less strong for firms in service industries, possibly reflecting the difficulty of reallocating taxable service income.