International Tax Spillovers and Tangible Investment, with Implications for the Global Minimum Tax

• Tác giả: Michael Keen
• Ngôn ngữ: eng
• Ký hiệu phân loại: 338.88 Multinational business enterprises
• Thông tin xuất bản: World Bank, Washington, DC, 2023
• Bộ sưu tập: Tài liệu truy cập mở
• ID: 315389
• Chủ đề: 1. CORPORATE TAXATION; 2. FOREIGN DIRECT INVESTMENT; 3. GLOBAL MINIMUM TAX; 4. INTERNATIONAL TAX; 5. MULTINATIONAL INVESTMENT

Tóm tắt

 This paper articulates and, using newly-assembled data, explores how international taxation affects aggregate tangible cross-border investment. Spillovers from statutory tax rates abroad seem: As sizable as effects from the host's rate
  larger than previous consensus values (attributed to a systematic bias from FDI data)
  and consistent with 'implicit' profit shifting through real investment (rather than 'paper' profit shifting). Contrary to much policy discussion, the results also imply that: Host countries' marginal effective tax rates have at best a weak effect on real investment
  those elsewhere have none
  and, applied to the prospective global minimum tax, inward tangible investment in most sample countries will increase.