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Fiscal Paradise: Foreign Tax Havens And American Business

  • HINES, J.R.
  • RICE, E.M.

The tax haven affiliates of American corporations account for more than 20 percent of U.S. foreign direct investment and nearly a third of the foreign profits of U.S. firms. American companies report extraordinarily high profit rates on their tax haven investments in 1982. This behavior implies that the revenue-maximizing tax rate for a typical haven is around 5-8 percent. American (and foreign) investment in tax havens has an uncertain effect on U.S. tax revenue but, since low tax rates encourage American companies to shift profits out of high-tax foreign countries, it is possible that low foreign tax rates ultimately enhance U.S. tax collections. Copyright 1994, the President and Fellows of Harvard College and the Massachusetts Institute of Technology.

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Paper provided by Princeton, Woodrow Wilson School - Discussion Paper in its series Papers with number 56.

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Length: 30 pages
Date of creation: 1990
Date of revision:
Handle: RePEc:fth:priwdp:56
Contact details of provider: Postal: PRINCETON UNIVERSITY, WOODROW WILSON SCHOOL OF PUBLIC AND INTERNATIONAL AFFAIRS, DEPARTMENT OF ECONOMICS, PRINCETON NEW-JERSEY 08542 U.S.A.
Phone: (609) 258-4800
Web page: http://www.wws.princeton.edu/

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