 European banks and tax havens: evidence from country-by-country reportingApplied Economics, 2020, vol. 52, issue 54, 5967-5985 Abstract: Banks in the European Union have recently started publicly reporting data on profit, employee numbers, turnover and tax on a country-by-country basis; this new data source is capable of indicating to what extent banks’ profits are geographically aligned with their activities. I introduce one of the largest, hand-collected, publicly available data sets of its kind, which covers almost 50 banks for up to 5 years between 2013 and 2017. Using the data set, I identify the main locations of European bank’s profits, which include major European economies as well as countries often considered tax havens. I find that some of the tax havens have maintained high shares of profits in contrast with their much lower shares of employees or, to a lesser extent, turnover. These results indicate that while banks are likely shifting their profits to tax havens, even more detailed data would need to be published by banks to facilitate a direct observation of profit shifting. Date: 2020 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:applec:v:52:y:2020:i:54:p:5967-5985 Ordering information: This journal article can be ordered from DOI: 10.1080/00036846.2020.1781773 Access Statistics for this article Applied Economics is currently edited by Anita Phillips More articles in Applied Economics from Taylor & Francis Journals |
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