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Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK / Li Liu.
- Format:
- Book
- Government document
- Author/Creator:
- Liu, Li.
- Series:
- IMF Working Papers; Working Paper ; No. 2018/007
- IMF Working Papers
- Language:
- English
- Subjects (All):
- Investments, Foreign.
- Physical Description:
- 1 online resource (49 pages).
- Place of Publication:
- Washington, D.C. : International Monetary Fund, 2018.
- Summary:
- In 2009, the United Kingdom changed from a worldwide to a territorial tax system, abolishing dividend taxes on foreign repatriation from many low-tax countries. This paper assesses the causal effect of territorial taxation on real investments, using a unique dataset for multinational affiliates in 27 European countries and employing the difference-in-difference approach. It finds that the territorial reform has increased the investment rate of UK multinationals by 15.7 percentage points in low-tax countries. In the absence of any significant investment reduction elsewhere, the findings represent a likely increase in total outbound investment by UK multinationals.
- Notes:
- Description based on print version record.
- ISBN:
- 9781484337707
- 1484337700
- 9781484337721
- 1484337727
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