Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/266671 
Erscheinungsjahr: 
2022
Quellenangabe: 
[Journal:] The Scandinavian Journal of Economics [ISSN:] 1467-9442 [Volume:] 124 [Issue:] 3 [Publisher:] Wiley [Place:] Hoboken, NJ [Year:] 2022 [Pages:] 797-837
Verlag: 
Wiley, Hoboken, NJ
Zusammenfassung: 
Little is known about how banks shift profits to low‐tax countries. Because of their specific business model, banks use other profit‐shifting channels than non‐financial firms. We propose a novel and bank‐specific method of profit shifting: the strategic relocation of proprietary trading to low‐tax jurisdictions. Using regulatory data from the German central bank, we show that a 1 percentage point lower corporate tax rate increases banks' fixed‐income trading assets by 3–4 percent and trading derivatives by 9 percent. Suggestively, this increase does not arise from a relocation of real activities (i.e., traders); instead, it stems from the relocation of book profits.
Schlagwörter: 
Multinational banks
profit shifting
tax avoidance
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Dokumentart: 
Article
Dokumentversion: 
Published Version

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