The indirect side of direct investment : multinational company finance and taxation / Jack M. Mintz and Alfons J. Weichenrieder.

9780262289658 (electronic bk.)
0262289652 (electronic bk.)
9780262014496
0262014491

Cambridge, Mass. : MIT Press, 2010.

English

1 online resource (192 pages) : illustrations.

HG4027.5 .M56 2010eb

332.67/3

Drawing on a unique data set (MiDi) on German multinationals provided by the Deutsche Bundesbank in Frankfurt, Mintz and Weichenrieder confirm the prevalence of indirect financing structures for both outbound and inbound German investment. They find evidence of "treaty shopping!' to avoid withholding taxes (using a third country with more favorable tax rates as a conduit through which to route investments) and of "debt shifting."
Mintz and Weichenrieder argue that increasing our knowledge of the tax reasons behind conduit investment will lead to a better understanding of how tax policy can affect macroeconomic flows of capital in the global economy. They review the trade-offs that governments face and discuss policy options, considering not only possible changes to corporate income tax policy but also the potential influence of international cooperation on countries' domestic tax policy. --Book Jacket.

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