Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/198822 
Erscheinungsjahr: 
2019
Schriftenreihe/Nr.: 
CESifo Working Paper No. 7462
Verlag: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Zusammenfassung: 
This paper explores empirically whether and how FDI is affected if multinationals’ home countries change taxation of foreign earnings by switching from worldwide to territorial taxation. Our analysis employs data for German inbound FDI based on the ultimate investing country concept. We use a quasi-experimental approach and provide counterfactuals using the synthetic-control method. Our results confirm effects of the switch from worldwide to territorial taxation on FDI but point at the importance of the actual tax rate. For Japan, which charges a higher tax rate on corporate profits than Germany, we find a substantial increase of FDI in Germany after the switch from worldwide to territorial taxation. For the UK, which imposes a lower tax rate than Germany, the switch to territorial taxation is not found to exert any significant effects on investment in Germany.
Schlagwörter: 
FDI
double taxation
dividend exemption
tax competition
synthetic-control method
ultimate investor country
JEL: 
H25
F23
Dokumentart: 
Working Paper
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