一、主题： Havens Lost, Profits Retained, and Economy Hurt: Effects of Anti-Tax Avoidance on MNCs in China
四、地点：腾讯会议ID：527 521 863
Abstract: Anti-tax avoidance on multinationals has been at the top of the international tax policy agenda since the 2008 global financial crisis. This paper employs the DDD method to identify the effects of anti-tax avoidance on MNCs in China and explores the channel through which the policy takes effect. We find that for MNCs from tax haven countries, the exposed MNCs’ profit-to-asset ratio increased by 0.8%, and profit shifting via import transfer pricing is largely curbed, with a reduction in unit values of 10–13%, which implies annual tax revenue retained amounting to 3–4% of MNCs’ tax returns in China. However, the retained profits are at the cost of a shrinking of the real economy, such as a salient decline in the FDI.