CONSEQUENCES OF THE NEW UK TAX EXEMPTION SYSTEM: EVIDENCE FROM MICRO-LEVEL DATA

被引：22

作者：

Egger, Peter

Merlo, Valeria

Ruf, Martin

Wamser, Georg

机构：

[1] Univ Nottingham, CESifo, CEPR, ETH Zurich, Nottingham NG7 2RD, England

[2] Univ Oxford, Ctr Business Taxat OUCBT, Oxford OX1 2JD, England

[3] Univ Tubingen, Tubingen, Germany

[4] CESifo, Munich, Germany

[5] NoCeT, Bergen, Norway

[6] Univ Tubingen, CESifo, Tubingen, Germany

[7] NoCeT, Tubingen, Germany

来源：

ECONOMIC JOURNAL | 2015年 / 125卷 / 589期

关键词：

INTERNATIONAL MERGERS; TAXATION; POLICY;

D O I：

10.1111/ecoj.12190

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Until 2009, the UK operated a system of worldwide taxation. Under this system, taxation of foreign income was deferred until repatriated as dividends, leaving UK-owned multinational firms the possibility of avoiding UK taxation by delaying dividend payments and keeping earnings abroad. In 2009, the UK switched to a system under which all foreign-earned income is exempted from taxation. We evaluate the effects of this reform on foreign affiliates of UK multinationals. Using an identification approach that quasi-randomises over the country of residence of the ultimate firm owners, we find that the reform significantly affected short-run repatriation behaviour.

引用

页码：1764 / 1789

页数：26