000128122 001__ 128122
000128122 005__ 20241125101127.0
000128122 0247_ $$2doi$$a10.1080/00036846.2022.2141464
000128122 0248_ $$2sideral$$a131373
000128122 037__ $$aART-2023-131373
000128122 041__ $$aeng
000128122 100__ $$0(orcid)0000-0002-8077-5919$$aCastillo-Murciego, Ángela$$uUniversidad de Zaragoza
000128122 245__ $$aTax haven investments for Profit-Shifting: evidence from Spanish multinationals
000128122 260__ $$c2023
000128122 5060_ $$aAccess copy available to the general public$$fUnrestricted
000128122 5203_ $$aTax havens may play a key role in the Profit-Shifting (P-S) activity of Multinational Companies (MNCs), since, among other characteristics, they are the territories with the most beneficial taxes for foreign investors. This article shows that Spanish MNCs facing higher tax rates in non-tax havens, and therefore those that stand to gain the most from P-S, are more likely to invest in tax havens. This outcome is robust to at least two different tax haven lists and various definitions of the non-haven tax rate. The size of the MNCs’ activity, their use of intangible assets, and belonging to the Ibex 35 stock index also positively affect the probability of investing in tax havens. By economic sectors, once the endogeneity problem is controlled for, the incentive is greater for manufacturing than for service firms, but it is especially high for financial firms. Additionally, while non-haven tax rates positively influence the number of different tax havens used by firms, they have no effect on the number of affiliates located within them. Finally, the article estimates that Spanish MNCs have been able to save about 4 billion euros per year in Corporate Income Tax in the period 2013–2018 as a result of P-S.
000128122 536__ $$9info:eu-repo/grantAgreement/ES/DGA/S23-20R
000128122 540__ $$9info:eu-repo/semantics/openAccess$$aby-nc$$uhttp://creativecommons.org/licenses/by-nc/3.0/es/
000128122 590__ $$a1.8$$b2023
000128122 591__ $$aECONOMICS$$b241 / 600 = 0.402$$c2023$$dQ2$$eT2
000128122 592__ $$a0.59$$b2023
000128122 593__ $$aEconomics and Econometrics$$c2023$$dQ2
000128122 594__ $$a3.8$$b2023
000128122 655_4 $$ainfo:eu-repo/semantics/article$$vinfo:eu-repo/semantics/acceptedVersion
000128122 700__ $$0(orcid)0000-0002-1539-8483$$aLópez-Laborda, Julio$$uUniversidad de Zaragoza
000128122 7102_ $$14012$$2650$$aUniversidad de Zaragoza$$bDpto. Direcc.Organiza.Empresas$$cÁrea Organización de Empresas
000128122 7102_ $$14014$$2225$$aUniversidad de Zaragoza$$bDpto. Economía Aplicada$$cÁrea Economía Aplicada
000128122 773__ $$g55, 53 (2023), 6250-6263$$pAppl. econ.$$tApplied Economics$$x0003-6846
000128122 8564_ $$s344571$$uhttps://zaguan.unizar.es/record/128122/files/texto_completo.pdf$$yPostprint
000128122 8564_ $$s1593913$$uhttps://zaguan.unizar.es/record/128122/files/texto_completo.jpg?subformat=icon$$xicon$$yPostprint
000128122 909CO $$ooai:zaguan.unizar.es:128122$$particulos$$pdriver
000128122 951__ $$a2024-11-22-11:57:58
000128122 980__ $$aARTICLE