Comparing UK tax returns of foreign multinationals to matche domestic firms by Katarzyna Anna Bilicka
By: Bilicka, Katarzyna
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Material type: 
ArticlePublisher: 2019Subject(s): EMPRESAS MULTINACIONALES | SOCIEDADES EXTRANJERAS | IMPUESTOS | DECLARACIONES TRIBUTARIAS | REINO UNIDO
In:
The American Economic Review v. 109, n. 8, August 2019, p. 2921-2953 Summary: In this paper, I use confidential UK corporate tax returns data to explore whether there are systematic differences in the amount of taxable profits that multinational and domestic companies report. I find that the ratio of taxable profits to total assets reported by foreign multinational subsidiaries is one-half that of comparable domestic standalones. The majority of the difference is attributable to the fact that a higher proportion of foreign multinational subsidiaries report zero taxable profits. I document how the estimated difference is related to profit shifting and show that using accounting data leads to much smaller estimates of the difference.
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Resumen.
In this paper, I use confidential UK corporate tax returns data to explore whether there are systematic differences in the amount of taxable profits that multinational and domestic companies report. I find that the ratio of taxable profits to total assets reported by foreign multinational subsidiaries is one-half that of comparable domestic standalones. The majority of the difference is attributable to the fact that a higher proportion of foreign multinational subsidiaries report zero taxable profits. I document how the estimated difference is related to profit shifting and show that using accounting data leads to much smaller estimates of the difference.
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