Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK

Released on by Ms.Li Liu
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  • Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK Book Detail

  • Author : Ms.Li Liu
  • Release Date : 2018-01-12
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 49
  • ISBN 13 : 1484337492
  • File Size : 50,50 MB
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Where Does Multinational Investment Go with Territorial Taxation? Evidence from the UK by Ms.Li Liu PDF Summary

Book Description: 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.

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