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International Tax Spillovers and Tangible Investment, with Implications for the Global Minimum Tax / Michael Keen, Li Liu, Hayley Pallan.
- Format:
- Book
- Government document
- Author/Creator:
- Keen, Michael.
- Series:
- IMF Working Papers; Working Paper ; No. 2023/159
- IMF Working Papers
- Language:
- English
- Physical Description:
- 1 online resource (80 pages)
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2023.
- Summary:
- 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.
- Notes:
- Description based on print version record.
- ISBN:
- 9798400251573
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