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International tax planning within the structure of corporate entities owned by the shareholder-individual through Panama Papers destinations

Identifikátory výsledku

  • Kód výsledku v IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F20%3A43914687" target="_blank" >RIV/62156489:43110/20:43914687 - isvavai.cz</a>

  • Výsledek na webu

    <a href="https://doi.org/10.1111/dpr.12403" target="_blank" >https://doi.org/10.1111/dpr.12403</a>

  • DOI - Digital Object Identifier

    <a href="http://dx.doi.org/10.1111/dpr.12403" target="_blank" >10.1111/dpr.12403</a>

Alternativní jazyky

  • Jazyk výsledku

    angličtina

  • Název v původním jazyce

    International tax planning within the structure of corporate entities owned by the shareholder-individual through Panama Papers destinations

  • Popis výsledku v původním jazyce

    Motivation: Panama Papers scandal opened discussions about the importance of financial secrecy, anonymous ownership and/or shell companies with respect to a profit-shifting and an avoidance of taxation. Therefore we would like to indicate the importance of international tax planning within the structure of corporate entities owned by shareholder-indiviudal through Panama Papers destinations. Purpose: As Panama Papers scandal identified individuals from European member states, who used Panama Papers destinations for avoiding taxation, our main research questions were to identify profit-shifting channels and consequently to estimate related government revenue losses. Methods: As a research method we applied micro- data analysis of financial statements of multinational companies (MNEs) owned by the shareholder-individual. We used the data on companies from Amadeus/Orbis database. The results of our paper is based on the comparison of the two groups (with and without links to Panama Papers tax havens) and calculated profit-shifting indicators. Findings: Our research identified that generally the profit-shifting is done through the shift of operating revenues or the costs, however the use of debt channel in profit-shifting is also important. Further, we determined that the group with the link to tax haven has by 16.62% lower tax payable per unit of profit before tax and in order to generate one unit of profit before taxation it is enough to generate by 62.55% lower operating revenue. Finally, related government revenue losses were determined in the amount of 8.67 billion euros. Policy implication: Our results are of relevance for the discussions of the European Commission&apos;s newly proposed Common Consolidated Corporate Tax Base (CCCCTB) proposal which can freeze the current state of profit-shifting out of the European Union into tax havens. Further, our research highlights the importance of the establishment of the registries of ultimate beneficiary owners in EU Members States. As this data gained from this registry can be used for the direct research of the involvement of shareholders-individuals in profit-shifting.

  • Název v anglickém jazyce

    International tax planning within the structure of corporate entities owned by the shareholder-individual through Panama Papers destinations

  • Popis výsledku anglicky

    Motivation: Panama Papers scandal opened discussions about the importance of financial secrecy, anonymous ownership and/or shell companies with respect to a profit-shifting and an avoidance of taxation. Therefore we would like to indicate the importance of international tax planning within the structure of corporate entities owned by shareholder-indiviudal through Panama Papers destinations. Purpose: As Panama Papers scandal identified individuals from European member states, who used Panama Papers destinations for avoiding taxation, our main research questions were to identify profit-shifting channels and consequently to estimate related government revenue losses. Methods: As a research method we applied micro- data analysis of financial statements of multinational companies (MNEs) owned by the shareholder-individual. We used the data on companies from Amadeus/Orbis database. The results of our paper is based on the comparison of the two groups (with and without links to Panama Papers tax havens) and calculated profit-shifting indicators. Findings: Our research identified that generally the profit-shifting is done through the shift of operating revenues or the costs, however the use of debt channel in profit-shifting is also important. Further, we determined that the group with the link to tax haven has by 16.62% lower tax payable per unit of profit before tax and in order to generate one unit of profit before taxation it is enough to generate by 62.55% lower operating revenue. Finally, related government revenue losses were determined in the amount of 8.67 billion euros. Policy implication: Our results are of relevance for the discussions of the European Commission&apos;s newly proposed Common Consolidated Corporate Tax Base (CCCCTB) proposal which can freeze the current state of profit-shifting out of the European Union into tax havens. Further, our research highlights the importance of the establishment of the registries of ultimate beneficiary owners in EU Members States. As this data gained from this registry can be used for the direct research of the involvement of shareholders-individuals in profit-shifting.

Klasifikace

  • Druh

    J<sub>imp</sub> - Článek v periodiku v databázi Web of Science

  • CEP obor

  • OECD FORD obor

    50206 - Finance

Návaznosti výsledku

  • Projekt

    <a href="/cs/project/GA18-14082S" target="_blank" >GA18-14082S: Férové korporátní zdanění: Měření dopadu přesunu zisků na rozpočet České republiky</a><br>

  • Návaznosti

    P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Ostatní

  • Rok uplatnění

    2020

  • Kód důvěrnosti údajů

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Údaje specifické pro druh výsledku

  • Název periodika

    Development Policy Review

  • ISSN

    0950-6764

  • e-ISSN

  • Svazek periodika

    38

  • Číslo periodika v rámci svazku

    1

  • Stát vydavatele periodika

    US - Spojené státy americké

  • Počet stran výsledku

    16

  • Strana od-do

    124-139

  • Kód UT WoS článku

    000619418000007

  • EID výsledku v databázi Scopus

    2-s2.0-85075470964