Financial Crime – The Economics, Tech, Health and Culture Remix (beta)

The Exorbitant Tax Privilege

November 12, 2018 Bilal 0

The Exorbitant Tax Privilege https://ift.tt/2qGh5me The Exorbitant Tax Privilege NBER Working Paper No. 24983 Issued in September 2018 NBER Program(s):Development of the American Economy, International Finance and Macroeconomics, Public Economics We estimate and attempt to explain the evolution of the taxes paid by U.S. multinationals on their foreign profits since 1966. In the oil sector, taxes paid to oil-producing States have been contained, allowing U.S. firms to earn high after-tax returns. Foreign taxes fell abruptly after the first Gulf War. In sectors other than oil, the effective foreign tax rate has fallen by half since the late 1990s. Almost half […]

Links between tax havens, deforestation and illegal fishing exposed

September 2, 2018 Bilal 0

Links between tax havens, deforestation and illegal fishing exposed https://ift.tt/2B8Hx08 Scale of foreign capital channeled through tax havens to beef and soy companies operating in the Brazilian Amazon between 2000 and 2011. Credit: Stockholm Resilience Centre The release of the “Paradise Papers” and “Panama Papers” exposed how multinationals, politicians and the wealthy use offshore tax havens to conceal their wealth and money flows, and reduce their exposure to tax. Now, a team of researchers from the Stockholm Resilience Centre (SRC) at Stockholm University and the Global Economic Dynamics and the Biosphere (GEDB), Royal Swedish Academy of Sciences, have published the […]