The Unintended Consequences of Global Tax Asymmetries on Foreign Risk-Taking / Nathan Born.

Format:

Book

Thesis/Dissertation

Author/Creator:

Born, Nathan, author.

Contributor:

University of Pennsylvania. Accounting, degree granting institution.

Language:

English

Subjects (All):

Public policy.

Accounting--Penn dissertations.

Penn dissertations--Accounting.

Local Subjects:

Public policy.

Accounting--Penn dissertations.

Penn dissertations--Accounting.

Physical Description:

1 online resource (119 pages)

Contained In:

Dissertations Abstracts International 85-12A.

Place of Publication:

[Philadelphia, Pennsylvania] : University of Pennsylvania, 2022.

Ann Arbor : ProQuest Dissertations & Theses, 2024

Language Note:

English

Summary:

Global tax asymmetries alter foreign investment incentives. The new US international tax regime, global intangible low-taxed income (GILTI), introduces a complex tax asymmetry based on taxable income and foreign capital structure factors, leading to incremental taxes on volatile foreign cash flows. I find empirical evidence consistent with US multinational enterprises responding to this asymmetry by decreasing foreign risk-taking. These changes appear to be attributable to decreasing foreign operational risks through the consolidation of overseas operations. This result is an unintended consequence for a provision that was designed to discourage firms from moving intellectual property to tax havens. These insights are relevant to proposed reforms to GILTI in the United States and for the anticipated rollout of the OECD's new global tax framework.

Notes:

Source: Dissertations Abstracts International, Volume: 85-12, Section: A.

Advisors: Blouin, Jennifer; Committee members: Guay, Wayne; Lambert, Richard; Heinle, Mirko.

Department: Accounting.

Ph.D. University of Pennsylvania 2024.

Local Notes:

School code: 0175

ISBN:

9798382834399

Access Restriction:

Restricted for use by site license.