A Comparison of the Tax‐Motivated Income Shifting of Multinationals in Territorial and Worldwide Countries
比较了属地与全球征税制度下跨国公司税收驱动利润转移行为的差异，发现属地制度下公司转移更多利润，但差异源于涉及母国的转移，且全球制度下转移受再投资影响。
Abstract This paper tests for differences in the tax‐motivated income‐shifting behaviors of multinationals subject to different systems of taxing foreign earnings. I find that, on average, multinationals subject to territorial tax regimes shift more income than those subject to worldwide tax regimes. The difference in shifting, however, is driven by a difference in the subset of shifting that involves the parent country; multinationals in the two groups appear to shift equally among their foreign affiliates. In additional tests, I find that the shifting of worldwide firms is sensitive to reinvestment in the recipient countries, while that of territorial firms is not.