Nos publications

Working Paper

10.07.2025

The Distribution of Profit Shifting

Par Sarah Clifford, Jakob Miethe, and Camille Semelet

This paper characterizes profit shifting behavior across the size distribution of multinational enterprises (MNEs) to evaluate the targeting of the recently introduced Global Minimum Tax (GMT).

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Working Paper

16.06.2025

Measurement Matters: How profit measurement affects profit shifting

Par Giulia Aliprandi, Manon François, Agathe Noyer, and Elvin Le Pouhaër

This paper examines how the choice between book profits and taxable income affects profit shifting estimation.

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Working Paper

13.06.2025

When Bankers Become Informants: Behavioral Effects of Automatic Exchange of Information

Par Jeanne Bomare, and Matthew Collin

Over the past decade, more than 100 jurisdictions have signed AEoI in an effort to fight cross-border tax evasion. This paper studies the effectiveness and coverage of these agreements using account data leaked from an Isle of Man bank with a large customer base in countries participating to AEoI.

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Report

12.06.2025

Effective Tax Blacklists: Rethinking Criteria For the 21st Century

Par Sébastien Laffitte, and Edoardo Montagner

This report examines the evolution of harmful corporate tax practices in recent years, as well as the development of blacklists intended to identify such practices.

Lire plus

Report

28.05.2025

Assessing the coverage of the automatic exchange of information under the CRS

Par Hjalte Fejerskov Boas, Matthew Collin, Sarah Godar, Carolina Moura, and Andreas Økland

Our analysis reveals that the volume of data exchanged internationally has increased and improved substantially over recent years and that CRS-reported foreign wealth accounts for approximately 9% of household financial wealth.

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Working Paper

26.05.2025

Safely Opening Pandora’s Box: A Guide for Researchers Working with Leaked Data

Par Annette Alstadsæter, Matthew Collin, and Andreas Økland

In this paper, we (i) present the growing body of social science research that relies on leaked data, (ii) discuss the ethical, legal and privacy hurdles faced by projects relying on such data and (iii) offer a practical roadmap for researchers looking to enter the space.

Lire plus

Working Paper

07.05.2025

Proportional Treatment Effects in Staggered Settings: An Approach for Poisson Pseudo-Maximum Likelihood

Par Ninon Moreau-Kastler

The paper proposes a counterfactual approach to measure proportional treatment effects for staggered multiplicative difference-in-differences (DiD) models with Poisson Pseudo-Maximum Likelihood (PPML).

Lire plus

Note

06.05.2025

The New Face of Corporate Tax Competition

Par Jules Ducept, Sarah Godar, and Quentin Parrinello

The effective tax rate of multinational companies declined by 2.7 percentage points in the European Union between 2014 and 2022, shows a new EU Tax Observatory analysis of a decade of corporate tax reforms. The decline was exacerbated by tax competition between Member States.

Lire plus

Working Paper

15.04.2025

Declining Effective Tax Rates of Multinationals: The Hidden Role of Tax Base Reforms

Par Jules Ducept, and Sarah Godar

This paper documents the rise of corporate tax-base narrowing measures in the EU using a novel dataset covering both tax rate and tax base reforms implemented between 2014 and 2022.

Lire plus

Note

26.03.2025

Aligning Competitiveness and Sustainability: How Border Adjustments Can Strengthen the EU’s Agricultural Policy

Par Carl Gaigné, Elsa Leromain, Riccardo Norbiato, Mathieu Parenti, and Giulia Varaschin

Preserving competitiveness does not require lowering environmental standards. Instead, well-designed policies can facilitate an alignment of both goals.

Lire plus

Working Paper

19.03.2025

Enforcing Taxes on Cryptocurrencies

Par Mona Barake, and Hjalte Fejerskov Boas

Cryptocurrencies pose substantial challenges to tax enforcement due to their anonymous and decentralized properties, undermining conventional regulatory practices. We study the impact of an ambitious new enforcement initiative aimed at addressing these challenges...

Lire plus

Note

17.03.2025

Resources for a Safe and Resilient Europe: The Case for Minimum Taxation of Ultra-High-Net-Worth Individuals in the EU

Par Quentin Parrinello, Giulia Varaschin, and Gabriel Zucman

This policy note provides a revenue estimate of how much European Member States could raise with a minimum tax of 2% or 3% on the wealth of people owning more than €100 million or €1 billion in wealth – the scenarios considered in the report commissioned by the G20 presidency.

Lire plus

Working Paper

12.03.2025

The End of Londongrad? Ownership transparency and Offshore Investment in Real Estate

Par Matthew Collin, Florian M. Hollenbach, and David Szakonyi

This paper studies the impact of beneficial ownership transparency in the British real estate market.

Lire plus

Working Paper

20.02.2025

The Political Costs of Taxation

Par Eva Davoine, Joseph Enguehard, and Igor Kolesnikov

The paper examines the political costs of taxation in early modern France. It focuses on efforts to enforce the salt tax, the rate of which varied across regions.

Lire plus

Working Paper

23.01.2025

Treasure Islands, Real Jobs? Workers and Anti-Avoidance Policies in a Tax Paradise

Par Sónia Cabral, Joana Garcia, Raquel Miranda, Susana Peralta, and João Pereira dos Santos

This paper offers the first detailed characterization of the labor market in a tax paradise and the first assessment of how a reform aimed at discouraging tax avoidance affected workers.

Lire plus

Working Paper

23.01.2025

Global Minimum Tax and Profit Shifting

Par Tomáš Boukal, Petr Janský, and Miroslav Palanský

We develop a methodology to decompose the tax revenue impact of the global minimum tax introduced in 2024 into several components and quantify its potential impact on profit shifting.

Lire plus

Working Paper

23.01.2025

Profit Shifting and International Tax Reforms

Par Alessandro Ferrari, Sébastien Laffitte, Mathieu Parenti, and Farid Toubal

We propose a model of corporate tax avoidance that separates profits generated by real economic activities from paper profits shifted to tax havens. The model introduces ’triangle identities’ to estimate bilateral profit-shifting flows.

Lire plus

Working Paper

23.01.2025

Taxing Capital in a Globalized World: The Effects of Automatic Information Exchange

Par Hjalte Fejerskov Boas, Niels Johannesen, Claus Thustrup Kreiner, Lauge Larsen, and Gabriel Zucman

The working paper studies the effects of automatic information exchange on tax compliance by analyzing the universe of information reports sent by foreign banks to Danish authorities, matched to population-wide micro-data on income, wealth, and cross-border bank transfers.

Lire plus

Note

23.01.2025

Australian Public CbCR: filling the gaps?

Par Giulia Aliprandi

The note estimates that approximately 50% of large US companies and a significant portion of multinationals from countries like China, Japan, and Germany will potentially have to disclose information on their tax haven presence.

Lire plus

Report

23.01.2025

Un projet de norme coordonnée d'imposition minimale effective pour les particuliers très riches

Par Gabriel Zucman

Les systèmes fiscaux actuels ne parviennent pas à taxer efficacement les particuliers très fortunés. Ce rapport présente une proposition visant à résoudre ce problème par le biais de la coopération internationale.

Lire plus

Note

23.01.2025

The Mystery of Anonymous Investment in US Real Estate

Par Matthew Collin, Karan Mishra, and Andreas Økland

This note addresses the significant concerns associated with anonymous real estate ownership in the United States, highlighting how a considerable amount of property, including residential real estate, is held via corporate entities that conceal the true owners.

Lire plus

Report

23.01.2025

Advancing Corporate Tax Transparency

Par Giulia Aliprandi, and Kane Borders

This report examines the current landscape of corporate tax transparency and evaluates how emerging transparency measures could shape future developments in this critical area.

Lire plus

Note

23.01.2025

Foreign investment in the Dubai housing market, 2020-2024

Par Annette Alstadsæter, Matthew Collin, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

This note presents new evidence on the scale of foreign investment in the Dubai residential property market. Using new data comprising the ownership of a large share of the Dubai property market, we present updated estimates of foreign-owned real estate for the years 2020 and 2022.

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Working Paper

23.01.2025

All that glitters? Golden visas and real estate

Par João Pereira dos Santos, and Kristina Strohmaier

In this paper, we study the extent to which “golden visas” impact real estate housing markets. Using the population of transactions records from 2007 to 2019, we analyse the introduction of the Golden Visa Program in Portugal in 2012.

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Working Paper

23.01.2025

The Market for Tax Havens

Par Sébastien Laffitte

This paper investigates the determinants and consequences of the development of tax havens using a novel database that tracks the creation and development of offshore institutions in 48 tax havens.

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Note

23.01.2025

Mapping the global geography of shell companies

Par Giulia Aliprandi, Thijs Busschots, and Carlos Oliveira

This note examines the global prevalence and distribution of shell companies, which are often used for illicit financial activities like tax evasion.

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Working Paper

23.01.2025

Consumption Taxes and Corporate Income Taxes: Evidence from Place-Based VAT

Par Jules Ducept, Evangelos Koumanakos, and Panayiotis Nicolaides

This working paper looks at the responses of corporations in the Greek Islands to an increase in the VAT rate from 16% to 24%. Declared profits decreased by 28% and corporate income taxes by 34%. Tax evasion opportunities offer a plausible explanation of the response.

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Report

22.10.2023

Global Tax Evasion Report 2024

Par Annette Alstadsæter, Sarah Godar, Panayiotis Nicolaides, and Gabriel Zucman

An unprecedented research collaboration investigating the successes and failures of the fight against tax evasion over the last decade, building on the work of more than 100 researchers globally.

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Note

13.07.2023

The Long Road to Pillar One Implementation: Impact of Global Minimum Thresholds for Key Countries on the Effective Implementation of the Reform

Par Mona Barake, Quentin Parrinello, and Elvin Le Pouhaër

This note examines the impact of the recent introduction of minimum thresholds for the global implementation of the OECD/G20 Pillar One reform for key countries in the context of the negotiations.

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Note

04.07.2023

Who Will Pay the National Contribution on Operating Surplus?

Par Kane Borders, and Quentin Parrinello

This note discusses the perimeter and provides country-by-country revenue estimates for this new proposal.

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Working Paper

15.06.2023

The Compliance Effects of the Automatic Exchange of Information: Evidence from the Swiss Tax Amnesty

Par Enea Baselgia

This paper studies how the introduction of multilateral automatic exchange of information (AEOI) in 2017 affects tax compliance.

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Working Paper

12.06.2023

Fiscal Consequences of Corporate Tax Avoidance

Par Petr Jansky, Katarzyna Bilicka, and Evgeniya Dubinina

This paper studies the consequences of multinational tax avoidance on the structure of government tax revenues.

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Note

05.06.2023

Digital Service Taxes

Par Mona Barake, Sofía Balladares Herbert, Enea Baselgia, and Kane Borders

Digital Service Taxes (DSTs) are a recently introduced fiscal tool designed to tax digital companies. This note collects all publicly available data to take stock of the first few years of DST implementation.

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Working Paper

11.05.2023

Benchmarking Country-by-Country Reports

Par Giulia Aliprandi, and Gerrit von Zedlitz

In this paper, we conduct a benchmark analysis focusing on publicly available Country-by-Country Reports to assess the reliability of CbCR information compared to respective consolidated financial information.

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Working Paper

10.05.2023

Corporate Tax Avoidance and Sales: Micro Evidence and Aggregate Implications

Par Julien Martin, Mathieu Parenti, and Farid Toubal

This paper investigates the influence of corporate tax avoidance (CTA) on firm-level sales, and its aggregate implications.

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Working Paper

12.04.2023

Tax Avoidance and the Complexity of Multinational Enterprises

Par Manon François, and Vincent Vicard

Does the complexity of the ownership structure of multinational enterprises’ (MNEs) enable tax avoidance?

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Working Paper

03.04.2023

Effective Tax Rates and Firm Size

Par Pierre Bachas, Anne Brockmeyer, Roel Dom, and Camille Semelet

This paper provides novel evidence on the relationship between firm size and effective corporate tax rates using full-population administrative tax data from 13 countries.

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Working Paper

27.03.2023

Tax Revenue from Pillar One Amount A: Country-by-Country Estimates

Par Mona Barake, and Elvin Le Pouhaër

This paper presents simulations of the tax revenue arising from the Pillar One Amount A proposal of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting.

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Working Paper

13.03.2023

Does A Progressive Wealth Tax Reduce Top Wealth Inequality? Evidence From Switzerland

Par Isabel Z. Martínez, and Florian Scheuer

Like in many other countries, wealth inequality has increased in Switzerland over the last fifty years. By providing new evidence on cantonal top wealth shares for each of the 26 cantons since 1969, we show that the overall trend masks striking differences across cantons, both in levels and trends.

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28.02.2023

Rapports publics pays par pays : Un nouvel ensemble de données

Par Giulia Aliprandi, Francisco Gabriel, and Gerrit von Zedlitz

Dans cette note, nous présentons une base de données compilant les CbCRs publiées par des multinationales.

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Voir le simulateur

Note

23.02.2023

Tax Transparency by Multinationals: Trends in Country-by-Country Reports Public Disclosure

Par Giulia Aliprandi, and Kane Borders

La déclaration pays par pays est une source de données clé pour comprendre les activités des multinationales. Cette note explore les rapports publics pays par pays publiés par les multinationales pour mettre en évidence plusieurs tendances importantes.

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Working Paper

09.02.2023

Behavioral Responses to Special Tax Regimes for the Super - Rich: Insights from Swiss Rich Lists

Par Enea Baselgia, and Isabel Z. Martínez

We collect, digitize, and supplement Swiss rich lists published in the “BILANZ” business magazine since 1989, to gain new insights on the structure and dynamics of top wealth in Switzerland.

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Working Paper

08.12.2022

The Long Way to Tax Transparency: Lessons from the Early Publishers of Country-by-Country Reports

Par Petr Jansky, Giulia Aliprandi, Tommaso Faccio, Sarah Godar, and Katia Toledo Ruiz

In this paper, we analyse a hand-collected sample of voluntarily published country-by-country reports(CbCRs) of ten multinational enterprises (MNEs).

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Working Paper

05.12.2022

Tax Planning by European Banks

Par Mona Barake

Cet article explore l’optimisation fiscale des banques européennes à travers une nouvelle source de données. Depuis 2014, les institutions financières ont commencé à divulguer leur activité dans chaque pays, conformément à la directive européenne CRD IV.

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Working Paper

02.12.2022

Increasing Cross-Border Ownership of Real Estate: Evidence from Norway

Par Annette Alstadsæter, and Andreas Økland

This paper is the first to estimate the full extent of foreign-owned commercial and residential real estate in a country, including both direct and indirect ownership.

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Working Paper

01.12.2022

Global Profit Shifting, 1975 - 2019

Par Ludvig Wier, and Gabriel Zucman

Cet article construit des séries temporelles de transfert de bénéfices mondiaux couvrant la période 2015-19, durant laquelle d'importants efforts internationaux ont été mis en œuvre pour freiner le transfert de bénéfices.

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Note

14.11.2022

Une taxation moderne des superprofits

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

Cette note présente une nouvelle façon d'imposer les bénéfices extraordinaires des entreprises ayant bénéficié de circonstances exceptionnelles depuis l'invasion de l'Ukraine, comme le secteur énergétique, en taxant la hausse de la capitalisation boursière de ces entreprises.

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Working Paper

17.10.2022

Revealing 21% of GDP in Hidden Assets: Evidence from Argentina’s Tax Amnesty

Par Juliana Londoño-Vélez, and Dario Tortarolo

Ce document étudie l'efficacité des amnisties fiscales et leurs impacts sur l'imposition du capital et les dépenses publiques. Nous tirons parti de la grande variabilité des politiques de l'Argentine, qui a mis en œuvre le programme le plus réussi au monde, révélant des actifs d'une valeur de 21 %.

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Working Paper

28.09.2022

A Modern Excess Profit Tax

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

This paper presents a new way to tax excess profits. We propose to tax the rise in the stock market capitalization of companies that benefit from extraordinary circumstances, such as energy firms following the invasion of Ukraine in February 2022.

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12.07.2022

Résumé – Évasion Fiscale et Richesse Offshore : Politiques pour Demain

Événement annuel de référence dans la lutte contre l'évasion fiscale, la conférence visait à faire le point sur les développements passés, à étudier de nouvelles pistes et à projeter des politiques pour l'avenir.

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Working Paper

17.06.2022

Will We Ever Be Able to Track Offshore Wealth? Evidence from the Offshore Real Estate Market in the UK

Par Jeanne Bomare, and Ségal Le Guern Herry

This paper provides evidence of the growing importance of real estate assets in offshore portfolios.

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Working Paper

17.06.2022

Did the Tax Cuts and Jobs Act Reduce Profit Shifting by US Multinational Companies?

Par Petr Jansky, Javier Garcia-Bernardo, and Gabriel Zucman

Nous combinons des données d'enquête, des données fiscales et les déclarations financières des entreprises pour étudier l'évolution de l'allocation géographique des bénéfices des entreprises américaines après la réforme.

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Working Paper

09.05.2022

Les pennies du paradis : salaires et transfert de bénéfices

Par Annette Alstadsæter, Julie Brun Bjørkheim, Ronald B. Davies, and Johannes Scheuerer

Notre société accorde une attention croissante au fait que certaines multinationales déplacent leurs revenus vers des paradis fiscaux, une activité qui génère une inégalité dans l'imposition des sociétés.
Cet article examine le lien entre le transfert de bénéfices et l'inégalité des salaires.

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Working Paper

02.05.2022

Qui possède des biens immobiliers offshore ? Les données de Dubaï

Par Annette Alstadsæter, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

De nouvelles données sur la propriété d'environ 800 000 biens immobiliers à Dubaï offrent une fenêtre unique sur les investissements immobiliers transfrontaliers.

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Note

16.03.2022

Sanctions efficaces contre les oligarques et rôle d'un registre européen des actifs

Par Lucas Chancel, Theresa Neef, Panayiotis Nicolaides, Thomas Piketty, and Gabriel Zucman

Cette note porte sur les inégalités de patrimoine en Russie et plaide en faveur d'un registre européen des actifs. Un tel registre permettrait de cibler les sanctions et de disposer d'outils efficaces pour lutter contre le blanchiment d'argent et l'évasion fiscale.

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Report

07.11.2021

Nouvelles formes de concurrence fiscale : une enquête empirique

Par Eloi Flamant, Sarah Godar, and Gaspard Richard

Ce rapport fournit une analyse empirique de la concurrence fiscale entre les particuliers et les entreprises au sein de l’Union européenne, au travers d'un classement des régimes fiscaux les plus néfastes. Il propose également plusieurs options pour faire face à ces tendances.

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Note

25.10.2021

Effets de l'impôt minimum mondial sur les recettes : estimations pays par pays

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

En octobre 2021, 136 pays et juridictions ont convenu de la mise en œuvre rapide d'une réforme majeure du système international d'imposition des sociétés. Dans cette note, nous présentons des simulations des effets sur les recettes de l'impôt minimum mondial de 15 % prévu par cet accord.

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Voir le simulateur

Note

07.10.2021

L'évasion fiscale européenne à la lumière des "Pandora Papers"

Pour bien comprendre l'importance des Pandora Papers, il est utile de les mettre en perspective, sur la base des recherches économiques les plus récentes, les efforts internationaux en place afin de réduire la fraude extraterritoriale, et les pistes futures pour parvenir à la transparence fiscale.

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Report

07.09.2021

Les banques européennes ont-elles quitté les paradis fiscaux ? Etude à partir de données pays par pays

Par Mona Barake, Giulia Aliprandi, and Paul-Emmanuel Chouc

Les principales banques européennes comptabilisent chaque année 20 milliards d'euros (soit 14 % de leurs bénéfices totaux) dans les paradis fiscaux. Ce pourcentage est stable depuis 2014.

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Note

21.07.2021

Minimiser l'impôt minimum ? L'effet critique des exclusions de substances

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

132 pays ont convenu d'un taux d'imposition minimal d'au moins 15 % sur les bénéfices de leurs multinationales. Cependant, la déclaration commune comprend une disposition qui pourrait réduire considérablement l'efficacité de cette politique : l'exemption des exemptions fondées sur la substance.

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Voir le simulateur

Report

01.06.2021

Recouvrer le déficit fiscal des entreprises multinationales : simulations pour l'UE

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

L'Union européenne pourrait augmenter les recettes de l'impôt sur les sociétés de 170 milliards d'euros avec un impôt minimum de 25 %.

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Voir le simulateur

Working Paper

10.07.2025

The Distribution of Profit Shifting

Par Sarah Clifford, Jakob Miethe, and Camille Semelet

This paper characterizes profit shifting behavior across the size distribution of multinational enterprises (MNEs) to evaluate the targeting of the recently introduced Global Minimum Tax (GMT).

Lire plus

Working Paper

16.06.2025

Measurement Matters: How profit measurement affects profit shifting

Par Giulia Aliprandi, Manon François, Agathe Noyer, and Elvin Le Pouhaër

This paper examines how the choice between book profits and taxable income affects profit shifting estimation.

Lire plus

Working Paper

13.06.2025

When Bankers Become Informants: Behavioral Effects of Automatic Exchange of Information

Par Jeanne Bomare, and Matthew Collin

Over the past decade, more than 100 jurisdictions have signed AEoI in an effort to fight cross-border tax evasion. This paper studies the effectiveness and coverage of these agreements using account data leaked from an Isle of Man bank with a large customer base in countries participating to AEoI.

Lire plus

Report

12.06.2025

Effective Tax Blacklists: Rethinking Criteria For the 21st Century

Par Sébastien Laffitte, and Edoardo Montagner

This report examines the evolution of harmful corporate tax practices in recent years, as well as the development of blacklists intended to identify such practices.

Lire plus

Report

28.05.2025

Assessing the coverage of the automatic exchange of information under the CRS

Par Hjalte Fejerskov Boas, Matthew Collin, Sarah Godar, Carolina Moura, and Andreas Økland

Our analysis reveals that the volume of data exchanged internationally has increased and improved substantially over recent years and that CRS-reported foreign wealth accounts for approximately 9% of household financial wealth.

Lire plus

Working Paper

26.05.2025

Safely Opening Pandora’s Box: A Guide for Researchers Working with Leaked Data

Par Annette Alstadsæter, Matthew Collin, and Andreas Økland

In this paper, we (i) present the growing body of social science research that relies on leaked data, (ii) discuss the ethical, legal and privacy hurdles faced by projects relying on such data and (iii) offer a practical roadmap for researchers looking to enter the space.

Lire plus

Working Paper

07.05.2025

Proportional Treatment Effects in Staggered Settings: An Approach for Poisson Pseudo-Maximum Likelihood

Par Ninon Moreau-Kastler

The paper proposes a counterfactual approach to measure proportional treatment effects for staggered multiplicative difference-in-differences (DiD) models with Poisson Pseudo-Maximum Likelihood (PPML).

Lire plus

Note

06.05.2025

The New Face of Corporate Tax Competition

Par Jules Ducept, Sarah Godar, and Quentin Parrinello

The effective tax rate of multinational companies declined by 2.7 percentage points in the European Union between 2014 and 2022, shows a new EU Tax Observatory analysis of a decade of corporate tax reforms. The decline was exacerbated by tax competition between Member States.

Lire plus

Working Paper

15.04.2025

Declining Effective Tax Rates of Multinationals: The Hidden Role of Tax Base Reforms

Par Jules Ducept, and Sarah Godar

This paper documents the rise of corporate tax-base narrowing measures in the EU using a novel dataset covering both tax rate and tax base reforms implemented between 2014 and 2022.

Lire plus

Note

26.03.2025

Aligning Competitiveness and Sustainability: How Border Adjustments Can Strengthen the EU’s Agricultural Policy

Par Carl Gaigné, Elsa Leromain, Riccardo Norbiato, Mathieu Parenti, and Giulia Varaschin

Preserving competitiveness does not require lowering environmental standards. Instead, well-designed policies can facilitate an alignment of both goals.

Lire plus

Working Paper

19.03.2025

Enforcing Taxes on Cryptocurrencies

Par Mona Barake, and Hjalte Fejerskov Boas

Cryptocurrencies pose substantial challenges to tax enforcement due to their anonymous and decentralized properties, undermining conventional regulatory practices. We study the impact of an ambitious new enforcement initiative aimed at addressing these challenges...

Lire plus

Note

17.03.2025

Resources for a Safe and Resilient Europe: The Case for Minimum Taxation of Ultra-High-Net-Worth Individuals in the EU

Par Quentin Parrinello, Giulia Varaschin, and Gabriel Zucman

This policy note provides a revenue estimate of how much European Member States could raise with a minimum tax of 2% or 3% on the wealth of people owning more than €100 million or €1 billion in wealth – the scenarios considered in the report commissioned by the G20 presidency.

Lire plus

Working Paper

12.03.2025

The End of Londongrad? Ownership transparency and Offshore Investment in Real Estate

Par Matthew Collin, Florian M. Hollenbach, and David Szakonyi

This paper studies the impact of beneficial ownership transparency in the British real estate market.

Lire plus

Working Paper

20.02.2025

The Political Costs of Taxation

Par Eva Davoine, Joseph Enguehard, and Igor Kolesnikov

The paper examines the political costs of taxation in early modern France. It focuses on efforts to enforce the salt tax, the rate of which varied across regions.

Lire plus

Working Paper

23.01.2025

Treasure Islands, Real Jobs? Workers and Anti-Avoidance Policies in a Tax Paradise

Par Sónia Cabral, Joana Garcia, Raquel Miranda, Susana Peralta, and João Pereira dos Santos

This paper offers the first detailed characterization of the labor market in a tax paradise and the first assessment of how a reform aimed at discouraging tax avoidance affected workers.

Lire plus

Working Paper

23.01.2025

Global Minimum Tax and Profit Shifting

Par Tomáš Boukal, Petr Janský, and Miroslav Palanský

We develop a methodology to decompose the tax revenue impact of the global minimum tax introduced in 2024 into several components and quantify its potential impact on profit shifting.

Lire plus

Working Paper

23.01.2025

Profit Shifting and International Tax Reforms

Par Alessandro Ferrari, Sébastien Laffitte, Mathieu Parenti, and Farid Toubal

We propose a model of corporate tax avoidance that separates profits generated by real economic activities from paper profits shifted to tax havens. The model introduces ’triangle identities’ to estimate bilateral profit-shifting flows.

Lire plus

Working Paper

23.01.2025

Taxing Capital in a Globalized World: The Effects of Automatic Information Exchange

Par Hjalte Fejerskov Boas, Niels Johannesen, Claus Thustrup Kreiner, Lauge Larsen, and Gabriel Zucman

The working paper studies the effects of automatic information exchange on tax compliance by analyzing the universe of information reports sent by foreign banks to Danish authorities, matched to population-wide micro-data on income, wealth, and cross-border bank transfers.

Lire plus

Note

23.01.2025

Australian Public CbCR: filling the gaps?

Par Giulia Aliprandi

The note estimates that approximately 50% of large US companies and a significant portion of multinationals from countries like China, Japan, and Germany will potentially have to disclose information on their tax haven presence.

Lire plus

Report

23.01.2025

Un projet de norme coordonnée d'imposition minimale effective pour les particuliers très riches

Par Gabriel Zucman

Les systèmes fiscaux actuels ne parviennent pas à taxer efficacement les particuliers très fortunés. Ce rapport présente une proposition visant à résoudre ce problème par le biais de la coopération internationale.

Lire plus

Note

23.01.2025

The Mystery of Anonymous Investment in US Real Estate

Par Matthew Collin, Karan Mishra, and Andreas Økland

This note addresses the significant concerns associated with anonymous real estate ownership in the United States, highlighting how a considerable amount of property, including residential real estate, is held via corporate entities that conceal the true owners.

Lire plus

Report

23.01.2025

Advancing Corporate Tax Transparency

Par Giulia Aliprandi, and Kane Borders

This report examines the current landscape of corporate tax transparency and evaluates how emerging transparency measures could shape future developments in this critical area.

Lire plus

Note

23.01.2025

Foreign investment in the Dubai housing market, 2020-2024

Par Annette Alstadsæter, Matthew Collin, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

This note presents new evidence on the scale of foreign investment in the Dubai residential property market. Using new data comprising the ownership of a large share of the Dubai property market, we present updated estimates of foreign-owned real estate for the years 2020 and 2022.

Lire plus

Working Paper

23.01.2025

All that glitters? Golden visas and real estate

Par João Pereira dos Santos, and Kristina Strohmaier

In this paper, we study the extent to which “golden visas” impact real estate housing markets. Using the population of transactions records from 2007 to 2019, we analyse the introduction of the Golden Visa Program in Portugal in 2012.

Lire plus

Working Paper

23.01.2025

The Market for Tax Havens

Par Sébastien Laffitte

This paper investigates the determinants and consequences of the development of tax havens using a novel database that tracks the creation and development of offshore institutions in 48 tax havens.

Lire plus

Note

23.01.2025

Mapping the global geography of shell companies

Par Giulia Aliprandi, Thijs Busschots, and Carlos Oliveira

This note examines the global prevalence and distribution of shell companies, which are often used for illicit financial activities like tax evasion.

Lire plus

Working Paper

23.01.2025

Consumption Taxes and Corporate Income Taxes: Evidence from Place-Based VAT

Par Jules Ducept, Evangelos Koumanakos, and Panayiotis Nicolaides

This working paper looks at the responses of corporations in the Greek Islands to an increase in the VAT rate from 16% to 24%. Declared profits decreased by 28% and corporate income taxes by 34%. Tax evasion opportunities offer a plausible explanation of the response.

Lire plus

Report

22.10.2023

Global Tax Evasion Report 2024

Par Annette Alstadsæter, Sarah Godar, Panayiotis Nicolaides, and Gabriel Zucman

An unprecedented research collaboration investigating the successes and failures of the fight against tax evasion over the last decade, building on the work of more than 100 researchers globally.

Lire plus

Note

13.07.2023

The Long Road to Pillar One Implementation: Impact of Global Minimum Thresholds for Key Countries on the Effective Implementation of the Reform

Par Mona Barake, Quentin Parrinello, and Elvin Le Pouhaër

This note examines the impact of the recent introduction of minimum thresholds for the global implementation of the OECD/G20 Pillar One reform for key countries in the context of the negotiations.

Lire plus

Note

04.07.2023

Who Will Pay the National Contribution on Operating Surplus?

Par Kane Borders, and Quentin Parrinello

This note discusses the perimeter and provides country-by-country revenue estimates for this new proposal.

Lire plus

Working Paper

15.06.2023

The Compliance Effects of the Automatic Exchange of Information: Evidence from the Swiss Tax Amnesty

Par Enea Baselgia

This paper studies how the introduction of multilateral automatic exchange of information (AEOI) in 2017 affects tax compliance.

Lire plus

Working Paper

12.06.2023

Fiscal Consequences of Corporate Tax Avoidance

Par Petr Jansky, Katarzyna Bilicka, and Evgeniya Dubinina

This paper studies the consequences of multinational tax avoidance on the structure of government tax revenues.

Lire plus

Note

05.06.2023

Digital Service Taxes

Par Mona Barake, Sofía Balladares Herbert, Enea Baselgia, and Kane Borders

Digital Service Taxes (DSTs) are a recently introduced fiscal tool designed to tax digital companies. This note collects all publicly available data to take stock of the first few years of DST implementation.

Lire plus

Working Paper

11.05.2023

Benchmarking Country-by-Country Reports

Par Giulia Aliprandi, and Gerrit von Zedlitz

In this paper, we conduct a benchmark analysis focusing on publicly available Country-by-Country Reports to assess the reliability of CbCR information compared to respective consolidated financial information.

Lire plus

Working Paper

10.05.2023

Corporate Tax Avoidance and Sales: Micro Evidence and Aggregate Implications

Par Julien Martin, Mathieu Parenti, and Farid Toubal

This paper investigates the influence of corporate tax avoidance (CTA) on firm-level sales, and its aggregate implications.

Lire plus

Working Paper

12.04.2023

Tax Avoidance and the Complexity of Multinational Enterprises

Par Manon François, and Vincent Vicard

Does the complexity of the ownership structure of multinational enterprises’ (MNEs) enable tax avoidance?

Lire plus

Working Paper

03.04.2023

Effective Tax Rates and Firm Size

Par Pierre Bachas, Anne Brockmeyer, Roel Dom, and Camille Semelet

This paper provides novel evidence on the relationship between firm size and effective corporate tax rates using full-population administrative tax data from 13 countries.

Lire plus

Working Paper

27.03.2023

Tax Revenue from Pillar One Amount A: Country-by-Country Estimates

Par Mona Barake, and Elvin Le Pouhaër

This paper presents simulations of the tax revenue arising from the Pillar One Amount A proposal of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting.

Lire plus

Working Paper

13.03.2023

Does A Progressive Wealth Tax Reduce Top Wealth Inequality? Evidence From Switzerland

Par Isabel Z. Martínez, and Florian Scheuer

Like in many other countries, wealth inequality has increased in Switzerland over the last fifty years. By providing new evidence on cantonal top wealth shares for each of the 26 cantons since 1969, we show that the overall trend masks striking differences across cantons, both in levels and trends.

Lire plus

28.02.2023

Rapports publics pays par pays : Un nouvel ensemble de données

Par Giulia Aliprandi, Francisco Gabriel, and Gerrit von Zedlitz

Dans cette note, nous présentons une base de données compilant les CbCRs publiées par des multinationales.

Lire plus
Voir le simulateur

Note

23.02.2023

Tax Transparency by Multinationals: Trends in Country-by-Country Reports Public Disclosure

Par Giulia Aliprandi, and Kane Borders

La déclaration pays par pays est une source de données clé pour comprendre les activités des multinationales. Cette note explore les rapports publics pays par pays publiés par les multinationales pour mettre en évidence plusieurs tendances importantes.

Lire plus

Working Paper

09.02.2023

Behavioral Responses to Special Tax Regimes for the Super - Rich: Insights from Swiss Rich Lists

Par Enea Baselgia, and Isabel Z. Martínez

We collect, digitize, and supplement Swiss rich lists published in the “BILANZ” business magazine since 1989, to gain new insights on the structure and dynamics of top wealth in Switzerland.

Lire plus

Working Paper

08.12.2022

The Long Way to Tax Transparency: Lessons from the Early Publishers of Country-by-Country Reports

Par Petr Jansky, Giulia Aliprandi, Tommaso Faccio, Sarah Godar, and Katia Toledo Ruiz

In this paper, we analyse a hand-collected sample of voluntarily published country-by-country reports(CbCRs) of ten multinational enterprises (MNEs).

Lire plus

Working Paper

05.12.2022

Tax Planning by European Banks

Par Mona Barake

Cet article explore l’optimisation fiscale des banques européennes à travers une nouvelle source de données. Depuis 2014, les institutions financières ont commencé à divulguer leur activité dans chaque pays, conformément à la directive européenne CRD IV.

Lire plus

Working Paper

02.12.2022

Increasing Cross-Border Ownership of Real Estate: Evidence from Norway

Par Annette Alstadsæter, and Andreas Økland

This paper is the first to estimate the full extent of foreign-owned commercial and residential real estate in a country, including both direct and indirect ownership.

Lire plus

Working Paper

01.12.2022

Global Profit Shifting, 1975 - 2019

Par Ludvig Wier, and Gabriel Zucman

Cet article construit des séries temporelles de transfert de bénéfices mondiaux couvrant la période 2015-19, durant laquelle d'importants efforts internationaux ont été mis en œuvre pour freiner le transfert de bénéfices.

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Note

14.11.2022

Une taxation moderne des superprofits

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

Cette note présente une nouvelle façon d'imposer les bénéfices extraordinaires des entreprises ayant bénéficié de circonstances exceptionnelles depuis l'invasion de l'Ukraine, comme le secteur énergétique, en taxant la hausse de la capitalisation boursière de ces entreprises.

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Working Paper

17.10.2022

Revealing 21% of GDP in Hidden Assets: Evidence from Argentina’s Tax Amnesty

Par Juliana Londoño-Vélez, and Dario Tortarolo

Ce document étudie l'efficacité des amnisties fiscales et leurs impacts sur l'imposition du capital et les dépenses publiques. Nous tirons parti de la grande variabilité des politiques de l'Argentine, qui a mis en œuvre le programme le plus réussi au monde, révélant des actifs d'une valeur de 21 %.

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Working Paper

28.09.2022

A Modern Excess Profit Tax

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

This paper presents a new way to tax excess profits. We propose to tax the rise in the stock market capitalization of companies that benefit from extraordinary circumstances, such as energy firms following the invasion of Ukraine in February 2022.

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12.07.2022

Résumé – Évasion Fiscale et Richesse Offshore : Politiques pour Demain

Événement annuel de référence dans la lutte contre l'évasion fiscale, la conférence visait à faire le point sur les développements passés, à étudier de nouvelles pistes et à projeter des politiques pour l'avenir.

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Working Paper

17.06.2022

Will We Ever Be Able to Track Offshore Wealth? Evidence from the Offshore Real Estate Market in the UK

Par Jeanne Bomare, and Ségal Le Guern Herry

This paper provides evidence of the growing importance of real estate assets in offshore portfolios.

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Working Paper

17.06.2022

Did the Tax Cuts and Jobs Act Reduce Profit Shifting by US Multinational Companies?

Par Petr Jansky, Javier Garcia-Bernardo, and Gabriel Zucman

Nous combinons des données d'enquête, des données fiscales et les déclarations financières des entreprises pour étudier l'évolution de l'allocation géographique des bénéfices des entreprises américaines après la réforme.

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Working Paper

09.05.2022

Les pennies du paradis : salaires et transfert de bénéfices

Par Annette Alstadsæter, Julie Brun Bjørkheim, Ronald B. Davies, and Johannes Scheuerer

Notre société accorde une attention croissante au fait que certaines multinationales déplacent leurs revenus vers des paradis fiscaux, une activité qui génère une inégalité dans l'imposition des sociétés.
Cet article examine le lien entre le transfert de bénéfices et l'inégalité des salaires.

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Working Paper

02.05.2022

Qui possède des biens immobiliers offshore ? Les données de Dubaï

Par Annette Alstadsæter, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

De nouvelles données sur la propriété d'environ 800 000 biens immobiliers à Dubaï offrent une fenêtre unique sur les investissements immobiliers transfrontaliers.

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Note

16.03.2022

Sanctions efficaces contre les oligarques et rôle d'un registre européen des actifs

Par Lucas Chancel, Theresa Neef, Panayiotis Nicolaides, Thomas Piketty, and Gabriel Zucman

Cette note porte sur les inégalités de patrimoine en Russie et plaide en faveur d'un registre européen des actifs. Un tel registre permettrait de cibler les sanctions et de disposer d'outils efficaces pour lutter contre le blanchiment d'argent et l'évasion fiscale.

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Report

07.11.2021

Nouvelles formes de concurrence fiscale : une enquête empirique

Par Eloi Flamant, Sarah Godar, and Gaspard Richard

Ce rapport fournit une analyse empirique de la concurrence fiscale entre les particuliers et les entreprises au sein de l’Union européenne, au travers d'un classement des régimes fiscaux les plus néfastes. Il propose également plusieurs options pour faire face à ces tendances.

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Note

25.10.2021

Effets de l'impôt minimum mondial sur les recettes : estimations pays par pays

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

En octobre 2021, 136 pays et juridictions ont convenu de la mise en œuvre rapide d'une réforme majeure du système international d'imposition des sociétés. Dans cette note, nous présentons des simulations des effets sur les recettes de l'impôt minimum mondial de 15 % prévu par cet accord.

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Voir le simulateur

Note

07.10.2021

L'évasion fiscale européenne à la lumière des "Pandora Papers"

Pour bien comprendre l'importance des Pandora Papers, il est utile de les mettre en perspective, sur la base des recherches économiques les plus récentes, les efforts internationaux en place afin de réduire la fraude extraterritoriale, et les pistes futures pour parvenir à la transparence fiscale.

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Report

07.09.2021

Les banques européennes ont-elles quitté les paradis fiscaux ? Etude à partir de données pays par pays

Par Mona Barake, Giulia Aliprandi, and Paul-Emmanuel Chouc

Les principales banques européennes comptabilisent chaque année 20 milliards d'euros (soit 14 % de leurs bénéfices totaux) dans les paradis fiscaux. Ce pourcentage est stable depuis 2014.

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Note

21.07.2021

Minimiser l'impôt minimum ? L'effet critique des exclusions de substances

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

132 pays ont convenu d'un taux d'imposition minimal d'au moins 15 % sur les bénéfices de leurs multinationales. Cependant, la déclaration commune comprend une disposition qui pourrait réduire considérablement l'efficacité de cette politique : l'exemption des exemptions fondées sur la substance.

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Voir le simulateur

Report

01.06.2021

Recouvrer le déficit fiscal des entreprises multinationales : simulations pour l'UE

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

L'Union européenne pourrait augmenter les recettes de l'impôt sur les sociétés de 170 milliards d'euros avec un impôt minimum de 25 %.

Lire plus
Voir le simulateur

Working Paper

10.07.2025

The Distribution of Profit Shifting

Par Sarah Clifford, Jakob Miethe, and Camille Semelet

This paper characterizes profit shifting behavior across the size distribution of multinational enterprises (MNEs) to evaluate the targeting of the recently introduced Global Minimum Tax (GMT).

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Working Paper

16.06.2025

Measurement Matters: How profit measurement affects profit shifting

Par Giulia Aliprandi, Manon François, Agathe Noyer, and Elvin Le Pouhaër

This paper examines how the choice between book profits and taxable income affects profit shifting estimation.

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Working Paper

13.06.2025

When Bankers Become Informants: Behavioral Effects of Automatic Exchange of Information

Par Jeanne Bomare, and Matthew Collin

Over the past decade, more than 100 jurisdictions have signed AEoI in an effort to fight cross-border tax evasion. This paper studies the effectiveness and coverage of these agreements using account data leaked from an Isle of Man bank with a large customer base in countries participating to AEoI.

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Report

12.06.2025

Effective Tax Blacklists: Rethinking Criteria For the 21st Century

Par Sébastien Laffitte, and Edoardo Montagner

This report examines the evolution of harmful corporate tax practices in recent years, as well as the development of blacklists intended to identify such practices.

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Report

28.05.2025

Assessing the coverage of the automatic exchange of information under the CRS

Par Hjalte Fejerskov Boas, Matthew Collin, Sarah Godar, Carolina Moura, and Andreas Økland

Our analysis reveals that the volume of data exchanged internationally has increased and improved substantially over recent years and that CRS-reported foreign wealth accounts for approximately 9% of household financial wealth.

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Working Paper

26.05.2025

Safely Opening Pandora’s Box: A Guide for Researchers Working with Leaked Data

Par Annette Alstadsæter, Matthew Collin, and Andreas Økland

In this paper, we (i) present the growing body of social science research that relies on leaked data, (ii) discuss the ethical, legal and privacy hurdles faced by projects relying on such data and (iii) offer a practical roadmap for researchers looking to enter the space.

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Working Paper

07.05.2025

Proportional Treatment Effects in Staggered Settings: An Approach for Poisson Pseudo-Maximum Likelihood

Par Ninon Moreau-Kastler

The paper proposes a counterfactual approach to measure proportional treatment effects for staggered multiplicative difference-in-differences (DiD) models with Poisson Pseudo-Maximum Likelihood (PPML).

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Note

06.05.2025

The New Face of Corporate Tax Competition

Par Jules Ducept, Sarah Godar, and Quentin Parrinello

The effective tax rate of multinational companies declined by 2.7 percentage points in the European Union between 2014 and 2022, shows a new EU Tax Observatory analysis of a decade of corporate tax reforms. The decline was exacerbated by tax competition between Member States.

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Working Paper

15.04.2025

Declining Effective Tax Rates of Multinationals: The Hidden Role of Tax Base Reforms

Par Jules Ducept, and Sarah Godar

This paper documents the rise of corporate tax-base narrowing measures in the EU using a novel dataset covering both tax rate and tax base reforms implemented between 2014 and 2022.

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Note

26.03.2025

Aligning Competitiveness and Sustainability: How Border Adjustments Can Strengthen the EU’s Agricultural Policy

Par Carl Gaigné, Elsa Leromain, Riccardo Norbiato, Mathieu Parenti, and Giulia Varaschin

Preserving competitiveness does not require lowering environmental standards. Instead, well-designed policies can facilitate an alignment of both goals.

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Working Paper

19.03.2025

Enforcing Taxes on Cryptocurrencies

Par Mona Barake, and Hjalte Fejerskov Boas

Cryptocurrencies pose substantial challenges to tax enforcement due to their anonymous and decentralized properties, undermining conventional regulatory practices. We study the impact of an ambitious new enforcement initiative aimed at addressing these challenges...

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Note

17.03.2025

Resources for a Safe and Resilient Europe: The Case for Minimum Taxation of Ultra-High-Net-Worth Individuals in the EU

Par Quentin Parrinello, Giulia Varaschin, and Gabriel Zucman

This policy note provides a revenue estimate of how much European Member States could raise with a minimum tax of 2% or 3% on the wealth of people owning more than €100 million or €1 billion in wealth – the scenarios considered in the report commissioned by the G20 presidency.

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Working Paper

12.03.2025

The End of Londongrad? Ownership transparency and Offshore Investment in Real Estate

Par Matthew Collin, Florian M. Hollenbach, and David Szakonyi

This paper studies the impact of beneficial ownership transparency in the British real estate market.

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Working Paper

20.02.2025

The Political Costs of Taxation

Par Eva Davoine, Joseph Enguehard, and Igor Kolesnikov

The paper examines the political costs of taxation in early modern France. It focuses on efforts to enforce the salt tax, the rate of which varied across regions.

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Working Paper

23.01.2025

Treasure Islands, Real Jobs? Workers and Anti-Avoidance Policies in a Tax Paradise

Par Sónia Cabral, Joana Garcia, Raquel Miranda, Susana Peralta, and João Pereira dos Santos

This paper offers the first detailed characterization of the labor market in a tax paradise and the first assessment of how a reform aimed at discouraging tax avoidance affected workers.

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Working Paper

23.01.2025

Global Minimum Tax and Profit Shifting

Par Tomáš Boukal, Petr Janský, and Miroslav Palanský

We develop a methodology to decompose the tax revenue impact of the global minimum tax introduced in 2024 into several components and quantify its potential impact on profit shifting.

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Working Paper

23.01.2025

Profit Shifting and International Tax Reforms

Par Alessandro Ferrari, Sébastien Laffitte, Mathieu Parenti, and Farid Toubal

We propose a model of corporate tax avoidance that separates profits generated by real economic activities from paper profits shifted to tax havens. The model introduces ’triangle identities’ to estimate bilateral profit-shifting flows.

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Working Paper

23.01.2025

Taxing Capital in a Globalized World: The Effects of Automatic Information Exchange

Par Hjalte Fejerskov Boas, Niels Johannesen, Claus Thustrup Kreiner, Lauge Larsen, and Gabriel Zucman

The working paper studies the effects of automatic information exchange on tax compliance by analyzing the universe of information reports sent by foreign banks to Danish authorities, matched to population-wide micro-data on income, wealth, and cross-border bank transfers.

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Note

23.01.2025

Australian Public CbCR: filling the gaps?

Par Giulia Aliprandi

The note estimates that approximately 50% of large US companies and a significant portion of multinationals from countries like China, Japan, and Germany will potentially have to disclose information on their tax haven presence.

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Report

23.01.2025

Un projet de norme coordonnée d'imposition minimale effective pour les particuliers très riches

Par Gabriel Zucman

Les systèmes fiscaux actuels ne parviennent pas à taxer efficacement les particuliers très fortunés. Ce rapport présente une proposition visant à résoudre ce problème par le biais de la coopération internationale.

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Note

23.01.2025

The Mystery of Anonymous Investment in US Real Estate

Par Matthew Collin, Karan Mishra, and Andreas Økland

This note addresses the significant concerns associated with anonymous real estate ownership in the United States, highlighting how a considerable amount of property, including residential real estate, is held via corporate entities that conceal the true owners.

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Report

23.01.2025

Advancing Corporate Tax Transparency

Par Giulia Aliprandi, and Kane Borders

This report examines the current landscape of corporate tax transparency and evaluates how emerging transparency measures could shape future developments in this critical area.

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Note

23.01.2025

Foreign investment in the Dubai housing market, 2020-2024

Par Annette Alstadsæter, Matthew Collin, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

This note presents new evidence on the scale of foreign investment in the Dubai residential property market. Using new data comprising the ownership of a large share of the Dubai property market, we present updated estimates of foreign-owned real estate for the years 2020 and 2022.

Lire plus

Working Paper

23.01.2025

All that glitters? Golden visas and real estate

Par João Pereira dos Santos, and Kristina Strohmaier

In this paper, we study the extent to which “golden visas” impact real estate housing markets. Using the population of transactions records from 2007 to 2019, we analyse the introduction of the Golden Visa Program in Portugal in 2012.

Lire plus

Working Paper

23.01.2025

The Market for Tax Havens

Par Sébastien Laffitte

This paper investigates the determinants and consequences of the development of tax havens using a novel database that tracks the creation and development of offshore institutions in 48 tax havens.

Lire plus

Note

23.01.2025

Mapping the global geography of shell companies

Par Giulia Aliprandi, Thijs Busschots, and Carlos Oliveira

This note examines the global prevalence and distribution of shell companies, which are often used for illicit financial activities like tax evasion.

Lire plus

Working Paper

23.01.2025

Consumption Taxes and Corporate Income Taxes: Evidence from Place-Based VAT

Par Jules Ducept, Evangelos Koumanakos, and Panayiotis Nicolaides

This working paper looks at the responses of corporations in the Greek Islands to an increase in the VAT rate from 16% to 24%. Declared profits decreased by 28% and corporate income taxes by 34%. Tax evasion opportunities offer a plausible explanation of the response.

Lire plus

Report

22.10.2023

Global Tax Evasion Report 2024

Par Annette Alstadsæter, Sarah Godar, Panayiotis Nicolaides, and Gabriel Zucman

An unprecedented research collaboration investigating the successes and failures of the fight against tax evasion over the last decade, building on the work of more than 100 researchers globally.

Lire plus

Note

13.07.2023

The Long Road to Pillar One Implementation: Impact of Global Minimum Thresholds for Key Countries on the Effective Implementation of the Reform

Par Mona Barake, Quentin Parrinello, and Elvin Le Pouhaër

This note examines the impact of the recent introduction of minimum thresholds for the global implementation of the OECD/G20 Pillar One reform for key countries in the context of the negotiations.

Lire plus

Note

04.07.2023

Who Will Pay the National Contribution on Operating Surplus?

Par Kane Borders, and Quentin Parrinello

This note discusses the perimeter and provides country-by-country revenue estimates for this new proposal.

Lire plus

Working Paper

15.06.2023

The Compliance Effects of the Automatic Exchange of Information: Evidence from the Swiss Tax Amnesty

Par Enea Baselgia

This paper studies how the introduction of multilateral automatic exchange of information (AEOI) in 2017 affects tax compliance.

Lire plus

Working Paper

12.06.2023

Fiscal Consequences of Corporate Tax Avoidance

Par Petr Jansky, Katarzyna Bilicka, and Evgeniya Dubinina

This paper studies the consequences of multinational tax avoidance on the structure of government tax revenues.

Lire plus

Note

05.06.2023

Digital Service Taxes

Par Mona Barake, Sofía Balladares Herbert, Enea Baselgia, and Kane Borders

Digital Service Taxes (DSTs) are a recently introduced fiscal tool designed to tax digital companies. This note collects all publicly available data to take stock of the first few years of DST implementation.

Lire plus

Working Paper

11.05.2023

Benchmarking Country-by-Country Reports

Par Giulia Aliprandi, and Gerrit von Zedlitz

In this paper, we conduct a benchmark analysis focusing on publicly available Country-by-Country Reports to assess the reliability of CbCR information compared to respective consolidated financial information.

Lire plus

Working Paper

10.05.2023

Corporate Tax Avoidance and Sales: Micro Evidence and Aggregate Implications

Par Julien Martin, Mathieu Parenti, and Farid Toubal

This paper investigates the influence of corporate tax avoidance (CTA) on firm-level sales, and its aggregate implications.

Lire plus

Working Paper

12.04.2023

Tax Avoidance and the Complexity of Multinational Enterprises

Par Manon François, and Vincent Vicard

Does the complexity of the ownership structure of multinational enterprises’ (MNEs) enable tax avoidance?

Lire plus

Working Paper

03.04.2023

Effective Tax Rates and Firm Size

Par Pierre Bachas, Anne Brockmeyer, Roel Dom, and Camille Semelet

This paper provides novel evidence on the relationship between firm size and effective corporate tax rates using full-population administrative tax data from 13 countries.

Lire plus

Working Paper

27.03.2023

Tax Revenue from Pillar One Amount A: Country-by-Country Estimates

Par Mona Barake, and Elvin Le Pouhaër

This paper presents simulations of the tax revenue arising from the Pillar One Amount A proposal of the G20/OECD Inclusive Framework on Base Erosion and Profit Shifting.

Lire plus

Working Paper

13.03.2023

Does A Progressive Wealth Tax Reduce Top Wealth Inequality? Evidence From Switzerland

Par Isabel Z. Martínez, and Florian Scheuer

Like in many other countries, wealth inequality has increased in Switzerland over the last fifty years. By providing new evidence on cantonal top wealth shares for each of the 26 cantons since 1969, we show that the overall trend masks striking differences across cantons, both in levels and trends.

Lire plus

28.02.2023

Rapports publics pays par pays : Un nouvel ensemble de données

Par Giulia Aliprandi, Francisco Gabriel, and Gerrit von Zedlitz

Dans cette note, nous présentons une base de données compilant les CbCRs publiées par des multinationales.

Lire plus
Voir le simulateur

Note

23.02.2023

Tax Transparency by Multinationals: Trends in Country-by-Country Reports Public Disclosure

Par Giulia Aliprandi, and Kane Borders

La déclaration pays par pays est une source de données clé pour comprendre les activités des multinationales. Cette note explore les rapports publics pays par pays publiés par les multinationales pour mettre en évidence plusieurs tendances importantes.

Lire plus

Working Paper

09.02.2023

Behavioral Responses to Special Tax Regimes for the Super - Rich: Insights from Swiss Rich Lists

Par Enea Baselgia, and Isabel Z. Martínez

We collect, digitize, and supplement Swiss rich lists published in the “BILANZ” business magazine since 1989, to gain new insights on the structure and dynamics of top wealth in Switzerland.

Lire plus

Working Paper

08.12.2022

The Long Way to Tax Transparency: Lessons from the Early Publishers of Country-by-Country Reports

Par Petr Jansky, Giulia Aliprandi, Tommaso Faccio, Sarah Godar, and Katia Toledo Ruiz

In this paper, we analyse a hand-collected sample of voluntarily published country-by-country reports(CbCRs) of ten multinational enterprises (MNEs).

Lire plus

Working Paper

05.12.2022

Tax Planning by European Banks

Par Mona Barake

Cet article explore l’optimisation fiscale des banques européennes à travers une nouvelle source de données. Depuis 2014, les institutions financières ont commencé à divulguer leur activité dans chaque pays, conformément à la directive européenne CRD IV.

Lire plus

Working Paper

02.12.2022

Increasing Cross-Border Ownership of Real Estate: Evidence from Norway

Par Annette Alstadsæter, and Andreas Økland

This paper is the first to estimate the full extent of foreign-owned commercial and residential real estate in a country, including both direct and indirect ownership.

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Working Paper

01.12.2022

Global Profit Shifting, 1975 - 2019

Par Ludvig Wier, and Gabriel Zucman

Cet article construit des séries temporelles de transfert de bénéfices mondiaux couvrant la période 2015-19, durant laquelle d'importants efforts internationaux ont été mis en œuvre pour freiner le transfert de bénéfices.

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Note

14.11.2022

Une taxation moderne des superprofits

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

Cette note présente une nouvelle façon d'imposer les bénéfices extraordinaires des entreprises ayant bénéficié de circonstances exceptionnelles depuis l'invasion de l'Ukraine, comme le secteur énergétique, en taxant la hausse de la capitalisation boursière de ces entreprises.

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Working Paper

17.10.2022

Revealing 21% of GDP in Hidden Assets: Evidence from Argentina’s Tax Amnesty

Par Juliana Londoño-Vélez, and Dario Tortarolo

Ce document étudie l'efficacité des amnisties fiscales et leurs impacts sur l'imposition du capital et les dépenses publiques. Nous tirons parti de la grande variabilité des politiques de l'Argentine, qui a mis en œuvre le programme le plus réussi au monde, révélant des actifs d'une valeur de 21 %.

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Working Paper

28.09.2022

A Modern Excess Profit Tax

Par Manon François, Carlos Oliveira, Bluebery Planterose, and Gabriel Zucman

This paper presents a new way to tax excess profits. We propose to tax the rise in the stock market capitalization of companies that benefit from extraordinary circumstances, such as energy firms following the invasion of Ukraine in February 2022.

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12.07.2022

Résumé – Évasion Fiscale et Richesse Offshore : Politiques pour Demain

Événement annuel de référence dans la lutte contre l'évasion fiscale, la conférence visait à faire le point sur les développements passés, à étudier de nouvelles pistes et à projeter des politiques pour l'avenir.

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Working Paper

17.06.2022

Will We Ever Be Able to Track Offshore Wealth? Evidence from the Offshore Real Estate Market in the UK

Par Jeanne Bomare, and Ségal Le Guern Herry

This paper provides evidence of the growing importance of real estate assets in offshore portfolios.

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Working Paper

17.06.2022

Did the Tax Cuts and Jobs Act Reduce Profit Shifting by US Multinational Companies?

Par Petr Jansky, Javier Garcia-Bernardo, and Gabriel Zucman

Nous combinons des données d'enquête, des données fiscales et les déclarations financières des entreprises pour étudier l'évolution de l'allocation géographique des bénéfices des entreprises américaines après la réforme.

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Working Paper

09.05.2022

Les pennies du paradis : salaires et transfert de bénéfices

Par Annette Alstadsæter, Julie Brun Bjørkheim, Ronald B. Davies, and Johannes Scheuerer

Notre société accorde une attention croissante au fait que certaines multinationales déplacent leurs revenus vers des paradis fiscaux, une activité qui génère une inégalité dans l'imposition des sociétés.
Cet article examine le lien entre le transfert de bénéfices et l'inégalité des salaires.

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Working Paper

02.05.2022

Qui possède des biens immobiliers offshore ? Les données de Dubaï

Par Annette Alstadsæter, Bluebery Planterose, Gabriel Zucman, and Andreas Økland

De nouvelles données sur la propriété d'environ 800 000 biens immobiliers à Dubaï offrent une fenêtre unique sur les investissements immobiliers transfrontaliers.

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Note

16.03.2022

Sanctions efficaces contre les oligarques et rôle d'un registre européen des actifs

Par Lucas Chancel, Theresa Neef, Panayiotis Nicolaides, Thomas Piketty, and Gabriel Zucman

Cette note porte sur les inégalités de patrimoine en Russie et plaide en faveur d'un registre européen des actifs. Un tel registre permettrait de cibler les sanctions et de disposer d'outils efficaces pour lutter contre le blanchiment d'argent et l'évasion fiscale.

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Report

07.11.2021

Nouvelles formes de concurrence fiscale : une enquête empirique

Par Eloi Flamant, Sarah Godar, and Gaspard Richard

Ce rapport fournit une analyse empirique de la concurrence fiscale entre les particuliers et les entreprises au sein de l’Union européenne, au travers d'un classement des régimes fiscaux les plus néfastes. Il propose également plusieurs options pour faire face à ces tendances.

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Note

25.10.2021

Effets de l'impôt minimum mondial sur les recettes : estimations pays par pays

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

En octobre 2021, 136 pays et juridictions ont convenu de la mise en œuvre rapide d'une réforme majeure du système international d'imposition des sociétés. Dans cette note, nous présentons des simulations des effets sur les recettes de l'impôt minimum mondial de 15 % prévu par cet accord.

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Note

07.10.2021

L'évasion fiscale européenne à la lumière des "Pandora Papers"

Pour bien comprendre l'importance des Pandora Papers, il est utile de les mettre en perspective, sur la base des recherches économiques les plus récentes, les efforts internationaux en place afin de réduire la fraude extraterritoriale, et les pistes futures pour parvenir à la transparence fiscale.

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Report

07.09.2021

Les banques européennes ont-elles quitté les paradis fiscaux ? Etude à partir de données pays par pays

Par Mona Barake, Giulia Aliprandi, and Paul-Emmanuel Chouc

Les principales banques européennes comptabilisent chaque année 20 milliards d'euros (soit 14 % de leurs bénéfices totaux) dans les paradis fiscaux. Ce pourcentage est stable depuis 2014.

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Note

21.07.2021

Minimiser l'impôt minimum ? L'effet critique des exclusions de substances

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

132 pays ont convenu d'un taux d'imposition minimal d'au moins 15 % sur les bénéfices de leurs multinationales. Cependant, la déclaration commune comprend une disposition qui pourrait réduire considérablement l'efficacité de cette politique : l'exemption des exemptions fondées sur la substance.

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Report

01.06.2021

Recouvrer le déficit fiscal des entreprises multinationales : simulations pour l'UE

Par Mona Barake, Paul-Emmanuel Chouc, Theresa Neef, and Gabriel Zucman

L'Union européenne pourrait augmenter les recettes de l'impôt sur les sociétés de 170 milliards d'euros avec un impôt minimum de 25 %.

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Voir le simulateur