What determines the use of holding companies and ownership chains?
The paper investigates the role of holding companies and conduit entities in German inbound and outbound FDI. It identifies the relevant conduit countries that act as stepping stones. Several tax and non-tax factors for the set-up of indirect structures are empirically identified. Withholding taxes, credit systems in capital exporting countries and the possibility of group consolidation are shown to be empirically important for the design of ownership chains in foreign direct investment.
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- Jack Mintz, 2004.
"Conduit Entities: Implications of Indirect Tax-Efficient Financing Structures for Real Investment,"
International Tax and Public Finance,
Springer;International Institute of Public Finance, vol. 11(4), pages 419-434, 08.
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