New paper from @gabriel_zucman cited by @Ed_Miliband showing that the idea that companies are mobile is wrong. They shift profits, but it’s much harder to shift jobs/factories - so govts shouldn’t be so focused on cutting corporate tax rates. http://gabriel-zucman.eu/files/TWZ2018.pdf … @alexcobham
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1% is an absolutely enormous sum.
Sure. But 40% sounds like a lot more! The estimates by @LudvigWier @TTorslov @gabriel_zucman are right in the ballpark of the @OECDtax $100-240bn estimates which informed the BEPS reforms
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The OECD results are unsupportable - they rely on Orbis data which systematically omits both lower-income countries and secrecy jurisdictions, so can only understate patterns of profit shifting
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Orbis data is weak. Our estimate covered all countries, including developing countries. Gabriel Zucman’s survey identifies TP as sole source of BEPS; does not deal with treaty shopping, indirect transfer of assets... Goal is to work altogether to improve methodology. More to come
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