US firms book more profits in Ireland than in China, Japan, Germany, France & Mexico combined
ICRICT commissioner Gabriel Zucman and his colleague Thomas Wright just published a paper about the evolution of the taxes paid by U.S. multinationals on their foreign profits since 1966.
In sectors other than oil, the effective foreign tax rate has fallen by half since the late 1990s. Almost half of this decline owes to the rise of profit shifting to tax havens. Ireland is the top destination: US firms book more profits in Ireland than in China, Japan, Germany, France & Mexico combined.
You can download the paper here.
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