Working Papers

From Oxford University Centre for Business Taxation
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1607: Stimulating investment through incorporation

Michael Devereux and Li Liu

1605: Large and influential: firm size and governments' corporate tax rate choice?

Tobias Bohm, Nadine Riedel and Martin Simmler

1604: The economics of corporate and business tax reform

Dhammika Dharmapala

1603: EU VAT principles as interpretative aids to EU VAT rules: the inherent paradox

Rita de la Feria

1602: Will the real R&D employees please stand up? Effects of tax breaks on firm level outcomes

Irem Guceri

1601: The impact of investment incentives: evidence from UK corporation tax returns

Giorgia Maffini, Jing Xing and Michael Devereux

1534: Tax competition and the efficiency of 'benefit-related' business taxes

Elisabeth Gugl and George Zodrow

1533: Enhanced co-operation: a way forward for tax harmonisation in the EU?

Anzhela Cedelle

1532: Do experts help firms optimise?

James Mahon and Eric Zwick

1531: Cash-flow business taxation revisited: bankruptcy, risk aversion and asymmetric information

Robin Boadway, Motohiro Sato and Jean-François Tremblay

1530: Do multinational firms invest more? On the impact of internal debt financing and transfer pricing on capital accumulation

Martin Simmler

1529: The crossroads versus the seesaw: getting a 'fix' on recent international tax policy developments

Daniel Shaviro

1528: Do companies invest more after shareholder tax cuts?

Zhonglai Dai, Douglas Shackelford, Yue Ying and Zhang Harold

1527: Who bears the cost of taxing the rich? An empirical study on CEO pay

Martin Ruf and Julia Schmider

1526: The corporate investment response to the domestic production activities deduction

Eric Orhn

1525: International taxation and MNE investment: evidence from the UK change to territoriality

Li Liu

1524: Reimagining capital income taxation

Edward Kleinbard

1523: Inter vivos transfers of ownership in family firms

James Hines, Niklas Potrafke, Marina Riem and Christoph Schinke

1522: The governments of many developing countries seek to attract inbound foreign direct investment (FDI) through the use of tax incentives for multinational corporations (MNCs). The effectiveness of these tax incentives depends crucially on MNCs¡¯ residence country tax regime, especially where the residence country imposes worldwide taxation on foreign income. Tax sparing provisions are included in many bilateral tax treaties to prevent host country tax incentives being nullified by residence country taxation. We analyse the impact of tax sparing provisions using panel data on bilateral FDI stocks from 23 OECD countries in 113 developing and transition economies over the period 2002-2012 (with 8189 observations on 1103 country pairs), coding tax sparing provisions in all bilateral tax treaties among these countries. We find that tax sparing agreements are associated with a 30 percent increase in bilateral FDI stocks. The estimated effect is concentrated in the year that tax sparing comes into force and the subsequent years, with no effects in prior years, and is thus consistent with a causal interpretation. Four countries - Norway in 2004, and the U.K., Japan, and New Zealand in 2009 - enacted tax reforms that moved them from worldwide to territorial taxation, potentially changing the value of their preexisting tax sparing agreements. However, there is no detectable effect of these reforms on bilateral FDI in tax sparing countries, relative to nonsparing countries. These results are consistent with tax sparing being an important determinant of FDI in developing countries for MNCs from both worldwide and territorial home countries

Celine Azemar and Dhammika Dharmapala

1521: A critical review of proposals for destination-based cash-flow corporate taxation as an international tax reform option

Wei Cui

1520: Governance and taxes: evidence from regression discontinuity

Andrew Bird and Stephen Karolyi

1519: Reinventing the wheel: what we can learn from the Tax Reform Act of 1986

Reuven Avi-Yonah

1518: Patent boxes design, patents, location and local R&D

Annette Alstadsater, Salvador Barrios, Gaëtan Nicodème, Agnieszka Skonieczna and Antonio Vezzani

1517: Do better entrepreneurs avoid more taxes?

Laurent Bach

1516: From financial to real economic crisis: evidence from individual firm¨Cbank relationships in Germany

Nadja Dwenger, Frank Fossen and Martin Simmler

1515: Evidence-based policy making? The Commission¡¯s Proposal for an FTT

Giorgia Maffini and John Vella

1514: How can a country 'graduate' from procyclical fiscal policy? Evidence from China

Clemens Fuest and Jing Xing

1513: The UK international tax agenda for business and the impact of the OECD BEPS project

Richard Collier and Giorgia Maffini

1512: Effectiveness of fiscal incentives for R&D: quasi-experimental evidence

Irem Guceri and Li Liu

1511: Tax incentives and R&D: an evaluation of the 2002 UK reform using micro data

Irem Guceri

1510: Surcharges and penalties in UK tax law

Rita de la Feria and Parintira Tanawong

1508: Managing tax complexity: the institutional framework for tax policy-making and oversight

Judith Freedman

1507: Corporate tax incentives and capital structure: empirical evidence from UK tax returns

Michael Devereux, Giorgia Maffini and Jing Xing

1506: VAT notches

Li Liu and Ben Lockwood

1505: Does ownership affect the impact of taxes on firm behaviour? Evidence from China

Clemens Fuest and Li Liu

1504: The Taxation of Foreign Profits: a Unified View

Michael Devereux, Clemens Fuest and Ben Lockwood

1503: The spillover effects of outward foreign direct investment on home countries: evidence from the United States

Jitao Tang and Rosanne Altshuler

1502: Who benefits from state corporate tax cuts? A local labour markets approach with heterogeneous firms

Juan Carlos Suárez Serrato and Owen Zidar

1502: Knocking on Tax Haven’s Door: multinational firms and transfer pricing

Ronald Davies, Julien Martin, Mathieu Parenti and Farid Toubal

1428: Taxation of shareholder income and the cost of capital in a small open economy

Peter Sørensen

1427: Taxation and the optimal constraint on corporate debt finance

Peter Sørensen

1426: The economics of advance pricing agreements

Johannes Becker, Ronald Davies and Gitte Jakobs

1425: Are we heading towards a corporate tax system fit for the 21st century?

Michael Devereux and John Vella

1424: Do multinational firms invest more? On the impact of internal debt financing on capital accumulation

Martin Simmler

1423: Should transactions services be taxed at the same rate as consumption?

Ben Lockwood and Erez Yerushalmi

1422: As American as Apple Inc.: International tax and ownership nationality

Chris Sanchirico

1419: Taking the High Road? Compliance with commuter tax allowances and the role of evasion spillovers

Jörg Paetzold and Hannes Winner

1418: How should governments promote distributive justice?: A framework for analyzing the optimal choice of tax instruments

David Gamage

1416: Public pressure and corporate tax behaviour

Scott Dyreng, Jeffrey Hoopes and Jaron Wilde

1415: Do financial frictions amplify fiscal policy? Evidence from business investment stimulus

Eric Zwick and James Mahon