| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16068 |
| DP16068 Real Responses to Anti-tax Avoidance: Evidence from the UK Worldwide Debt Cap | |
| Katarzyna Bilicka; Jing Xing; Yaxuan Qi | |
| 发表日期 | 2021-04-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We analyze how multinational firms reallocate real operations and debt across their affiliates in response to anti-tax avoidance policies. The UK introduced a worldwide debt cap in 2010, generating a quasi-natural experiment that limited interest deductibility for a group of multinational firms. We find that multinationals affected by the reform reduced the amount of debt held in the UK and increased debt held abroad. Affected multinationals reallocated a share of their real operations away from the UK. Our findings provide causal evidence for tax-motivated debt and real activity reallocation within multinationals and show how multinationals can circumvent tax avoidance regulations. |
| 主题 | Public Economics |
| 关键词 | Debt shifting Multinational companies Capital reallocation |
| URL | https://cepr.org/publications/dp16068 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545046 |
| 推荐引用方式 GB/T 7714 | Katarzyna Bilicka,Jing Xing,Yaxuan Qi. DP16068 Real Responses to Anti-tax Avoidance: Evidence from the UK Worldwide Debt Cap. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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