This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, for the most recent year, a 1 percentage-point lower corporate tax rate compared to other countries will expand before-tax income by 1.5 percent-an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research.
This is the first study to demonstrate improvement in coronary endothelial function by a multifactorial intervention which focused on exercise training in patients with T2DM. This coincided with improved markers of hyperglycaemia, insulin sensitivity, and inflammation both in serum and skeletal muscle biopsies.
This paper reviews the rapidly growing empirical literature on international tax avoidance by multinational corporations. It surveys evidence on main channels of corporate tax avoidance including transfer mispricing, international debt shifting, treaty shopping, tax deferral and corporate inversions. Moreover, it performs a meta analysis of the extensive literature that estimates the overall size of profit shifting. We find that the literature suggests that, for the most recent year, a 1 percentage-point lower corporate tax rate compared to other countries will expand before-tax income by 1.5 percent-an effect that is larger than reported as the consensus estimate in previous surveys and tends to be increasing over time. The literature on tax avoidance still has several unresolved puzzles and blind spots that require further research. JEL-Codes: F230, H250. participants at the IMF "Evaluating Tax Reform" conference and Fiscal Affairs Department seminar for helpful comments. We are grateful to Jost Heckmeyer and Michael Overesch for sharing their dataset for replication purposes. Any remaining errors are our own. 5 Taxes in high-tax locations can also be avoided by changing the location of foreign direct investment (FDI). This paper, however, focuses only on tax avoidance through profit shifting, not through a change in the location of real capital (for a survey of taxation and FDI, see e.g. De Mooij and Ederveen 2008). 6 Transfer mispricing has also implications for national accounts statistics and the measurement of GDP growth, see e.g. Guvenen et al (2017).
We combine macro and micro data to quantify the revenue effects of Double Tax Treaties (DTT). First, drawing on administrative information, we estimate the tax sensitivity of income flows (dividend, interest and royalty payments) at an aggregate level. We find important direct revenue costs linked to treaty restrictions on taxing rights, in particular with respect to flows into a small number of major investment hubs. Importantly, however, high elasticities of income flows also suggest that increases of withholding rates at the individual treaty partner level would not necessarily result in more revenue collection. Second, we use firm-level information to estimate the sensitivity of reported profitability to changes in the relevant treaty network. Our analysis of reported MNE affiliate earning in Ukraine suggests that the ownership structure and operations with affiliates in certain jurisdictions explains reported profitability and should thus receive increased attention in risk assessment and transfer pricing audit activities.JEL codes: F21, F23, H25, H26, H32
Abstract-The increasing pervasion of information and communication technology (ICT) in energy systems allows for the development of new control concepts on all voltage levels. In the distribution grid, this development is accompanied by a still increasing penetration with distributed energy resources like photovoltaic (PV) plants, wind turbines or small scale combined heat and power (CHP) plants. Combined with shiftable loads and electrical storage, these energy units set up a new flexibility potential in the distribution grid that can be tapped with ICT-based control following the long-term goal of substituting conventional power generation. In this contribution, we propose an architectural model and algorithms for the self-organization of these distributed energy units within dynamic virtual power plants (DVPP) along with first results from a feasibility study of the integrated process chain from market-driven DVPP formation to product delivery.
Abstract--It is generally believed that plug-in electric vehicles (PEVs) offer environmental and energy security advantages compared to conventional vehicles. Policies are stimulating electric transportation deployment, and PEV adoption may grow significantly. New technology and business models are being developed to organize the PEV interface and their interaction with the wider grid. This paper analyzes the PEVs' integration into a building's Energy Management System (EMS), differentiating between vehicle to macrogrid (V2M) and vehicle to microgrid (V2m) applications. This relationship is modeled by the Distributed Energy Resources Customer Adoption Model (DER-CAM), which finds optimal equipment combinations to meet microgrid requirements at minimum cost, carbon footprint, or other criteria. Results derive battery value to the building and the possibility of a contractual affiliation sharing the benefit. Under simple annual fixed payments and energy exchange agreements, vehicles are primarily used to avoid peak demand charges supplying cheaper off-peak electricity to the building during workdays.Index Terms--battery storage, building management systems, dispersed storage and generation, electric vehicles, load management, microgrid, optimization methods, power system economics, road vehicle electric propulsion
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