🚨Tax evasion is not a law of nature. It is a policy choice.
Today, we publish our first Global
#TaxEvasionReport
An unprecedented research collaboration investigating the successes and failures of the fight against tax evasion over the last decade.
📄
🔵How much taxes do billionaires really pay?
In our first Global
#TaxEvasionReport
we dedicate an entire section to unpacking why billionaires pay less taxes than ordinary citizens – and how we can change this.
🧵A thread👇
Excited to present our first study!
"Collecting the tax deficit of multinationals: Simulations for the European Union"
Key finding: the European Union would collect €170 billion / year with a 25% minimum tax.
"Billionaires are very good at structuring their wealth so that it generates little (sometimes zero) taxable income. This is why taxing their income is not enough. We need a wealth tax on billionaires."
🗣️:
@gabriel_zucman
at the EU Tax Symposium
#TaxMix50
Our Global
#TaxEvasionReport
relies on innovative analysis based on newly accessible tax data.
🔴Today we are proud to announce the publication of our Atlas of the
#OffshoreWorld
a new database of up-to-date, country-by-country statistics we used to build the report.
🗣️"Tax Evasion is not a law of nature. It is a policy choice".
Last week our Global
#TaxEvasionReport
was featured in more than 150 newspapers, radios and TVs accross 40 countries.
If you have not read it yet :
Meet our director
@gabriel_zucman
. Gabriel‘s research focuses on the accumulation, distribution, and taxation of global wealth and has renewed the analysis of the macro-distributional implications of globalization. In his books, he writes about social inequality and tax havens.
💥Congratulations to EU Tax Observatory’s Director
@gabriel_zucman
on winning the 2023 John Bates Clark medal. The award recognises his fundamental contribution to the field of public economics and especially on tax evasion and on economic inequality.
🌐
Our annual conference in Brussels has started with an opening statement from
@gabriel_zucman
The most crucial challenges consist of 3 points:
- improve the design of intl corporate
#taxation
- fight against tax evasion
- find new ways of attaining effective tax progressivity
❓To what extent are banks still present in tax havens?
How did their presence change since the introduction of CbCR requirements?
What amount of revenue can countries in Europe collect when a minimum tax rate is introduced?
Read our new report here 👇
🔵Multinational companies keep shifting profits to tax havens despite major reforms.
In our
#TaxEvasionReport
we estimate that $1 trillion was moved offshore in 2022 – 35% of multinationals’ foreign profits.
This shifting reduces global corporate tax revenues by 10%.
The
@OECD
CbCR Statistics are out!
🤔Having trouble understanding them?
Want to know how much multinationals earn and pay in taxes in each country where they operate?🧐
Discover our new interactive tool, the EU Tax Observatory CbCR Explorer:
🚨 PUBLICATION | A Modern Excess Profit Tax
Our new note 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.
Read the whole note here 👇
🚨CALL FOR PAPERS | The Economics of Taxation
Together with
@FundacioIEB
, we are inviting submissions of papers for our workshop on the economics of taxation until 12th March 2023.
Keynote speakers:
@annette_als
&
@gabriel_zucman
More information👇
💬 “The equivalent of 10% of world GDP is held in tax havens globally. It is high time to create transparency about who owns this offshore wealth.”
@gabriel_zucman
Read our note on how to better track wealth and beneficial ownership👇
"From a national perspective, it may pay off to play the game of tax competition [...]. But from a global perspective, this is negative sum and the main beneficiaries tend to be rich individuals, hence fueling inequality."
🗣️
@gabriel_zucman
at the Skatteforsk conference 2023
🚨 EVENT | Workshop on the Economics of Taxation
🗓 31 May - 1 June 2023 | 8.30 am - 6 pm (CET)
📍
@UniBarcelona
📰 12 sessions
👥 36 speakers
🗣️ 2 keynotes:
@annette_als
&
@gabriel_zucman
More information here 👇
📢 New note on "Effective sanctions against oligarchs and the role of a European Asset Registry" together with
@WIL_inequality
.
The note provides data on wealth inequality in Russia and advocates for a European Asset Registry.
Read the whole note here ⬇️
🚨 SAVE THE DATE
Are banks still in tax havens?
On September 6th, we will release our 2nd report, on this topic, with evidence from country-by-country data.
You'd like to know more about it? We'll host an online conference on September 8th, stay tuned.
🚨 EVENT | TAX AVOIDANCE AND OFFSHORE WEALTH: POLICIES FOR TOMORROW
🗓️ 13th June 2022
We are happy to announce the programme for our annual conference in Brussels! Join us and many great speakers to talk about tax!
Info & registration here 👇
📢D-7 to the publication of the
#TaxEvasionReport
Is global tax evasion falling or rising? Are new issues emerging? What can we do about it?
Over the next weeks we will present the findings of our report in Paris, Brussels, Stavanger, Berlin, Rome and New-York.
Stay tuned 👀
⁉️ Did you miss our first annual conference “Tax Avoidance and Offshore Wealth: Policies for Tomorrow" in Brussels?
Not a problem at all, you can download a detailed summary of all the panels and presentations, and watch recordings of the event here👇👇👇
It's important to expose the hypocrisy of billionaires and big corporations evading their taxes. But it's also important to acknowledge the progress that we've made since 2019. A short thread -->
/1
📊 PUBLIC REPOSITORY | Offshore Ownership of Real Estate
Our new page provides an overview of the current state of research on cross-border ownership of real estate and the role of tax havens - a thread 🧵
Click here to see country-specific research
🌐
📄WORKING PAPER | Fiscal Consequences of Corporate Tax Avoidance
In this paper,
@KatarzynaBilic1
,
@zhe_semenova
and
@petr_jansky
study the consequences of multinational tax avoidance on the structure of government tax revenues.
Read the full paper ⬇️
📰 WORKING PAPER | Revealing 21% of GDP in Hidden Assets: Evidence from Argentina’s Tax Amnesties
Read our working paper by
@juliana_londono
and
@dtortarolo
on the effectiveness of tax amnesties and their impacts on capital taxation and public spending👇
📢 Read our new note, entitled "Revenue Effects of the Global Minimum Tax: Country-by-Country Estimates", presenting simulations of the revenue effects of the global minimum tax of 15% based on country-by-country report statistics released by the
@OECD
.
🚨SAVE THE DATE!
What is the impact of the global tax agreement concluded at the
@OECD
and what role do carve-outs play?
On October 27th, we will release a new publication entitled "Revenue Effects of the Global Minimum Tax: Country-by-Country Estimates" based on new data!
🚨CALL FOR PAPERS | Economics of Taxation
Together with
@FundacioIEB
, we are inviting submissions of papers for our upcoming workshop.
⏰Deadline: 12 March 2023
📅31 May - 1 June 2023
🌴Barcelona
🗣Keynote speakers:
@annette_als
&
@gabriel_zucman
Info ➡️
💥Congratulations to EU Tax Observatory’s Director
@gabriel_zucman
on winning the 2023 John Bates Clark medal for his fundamental contributions to the field of public economics and especially on
#taxevasion
and on economic
#inequality
.
📣CALL FOR PAPERS | Economics of Taxation
Together with
@FundacioIEB
, we are inviting submissions of papers for our upcoming workshop.
⏰Deadline: 12 March 2023
📅31 May - 1 June 2023
🌴Barcelona
🗣Keynote speakers:
@annette_als
&
@gabriel_zucman
Info ➡️
Finance leaders from the G7 countries agreed on a new global minimum tax rate of at least 15 percent that companies would have to pay regardless of where they book profits.
How much additional revenue countries can gain from adopting a global minimum tax depends on the rate. 👇
🚨 SAVE THE DATE!
New Forms of Tax Competition in the European Union: An Empirical Investigation
On November 22nd, we will release our third report, on this topic, providing an empirical analysis of personal and corporate tax competition in the European Union.
Stay tuned!
🚨 PUBLICATION | Tax Transparency by Multinationals: Trends in Country-by-Country Reports Public Disclosure
Our new note explores public
#CbCRs
published by multinational companies to highlight several important trends.
Read the whole note here 👇
📄PUBLICATION | New Forms of Tax Competition in the European Union: An Empirical Investigation
Why and to what extend is tax competition harmful?
What are options to address it?
Read the full report here 👇
🚨 EVENT | Inheritance Taxation in the EU
🗓 1st July 2022
📍Seville, Spain and Online
Join us in person or online for our workshop on inheritance taxation in the EU together with
@EU_ScienceHub
and
@socialfedea
!
More information & registration here👇
📊 APP UPDATE:
The 2023 edition of our CbCR Explorer contains new data released last week: financials for 7,000 groups across 52 jurisdictions. 📈
Kudos to the
@OECDtax
team for compiling 2019 & 2020 reporting stats and increasing the coverage! 🙌
🌐
📰 WORKING PAPER | Does A Progressive Wealth Tax Reduce Top Wealth Inequality? Evidence From Switzerland
Read our newest working paper on a progressive wealth tax by
@SamiraMarti
,
@IZMartinez86
&
@Florian_Scheuer
➡️
📰 PSE WORKING PAPER | Tax Revenue from Pillar One Amount A: Country-by-Country Estimates
In this paper,
@Mona_BARAKE
&
@LePouhaer
present simulations of the tax revenue arising from the Pillar One Amount A proposal of the G20/OECD Inclusive👇
We are hiring a postdoc in the
#econjobmarket
. Come and join us!
We are based in Paris
@PSEinfo
and led by
@gabriel_zucman
.
Lots of opportunities for independent research and high exposure to international tax policy.
Applications by November 30 👇
🚨 EVENT | Tax Avoidance and Offshore Wealth: Policies for Tomorrow
Don't forget to register for the event now. Registration closes on Sunday 5th June at 6 pm.
Programme & Registration here 👇👇👇
📰WORKING PAPER | Will We Ever Be Able to Track Offshore Wealth? Evidence from the Offshore Real Estate Market in the UK
Read the fourth paper in our working paper series by
@bomare_jeanne
and
@LghSegal
on offshore wealth.
Full working paper here👇
📰 WORKING PAPER | Did the Tax Cuts and Jobs Act Reduce Profit Shifting by US Multinational Companies?
Read the third paper in our working paper series by
@javiergb_com
,
@petr_jansky
, and
@gabriel_zucman
.
Full working paper here👇
💡Russia exhibits the highest wealth inequality in Europe and much of Russians’ wealth is held in offshore centres.
Read our note to learn more about wealth inequality and offshore wealth 👇👇👇
🎉 The EU Tax Observatory’s first Annual Report is out! Check out our publications, the interactive tools developed by our team, the public repository, the conferences and events, and much more. Download the Annual Report to learn more about work.
🌐
‼️ Don't miss out on our research workshop focusing on recent research in economics about how multinational corporations avoid tax by shifting profits to tax havens and what the policy responses to this tax avoidance are.
🗓️25th Feb 14.00 -17.00 CET
🌐
🖌 Register now for our next lunch seminar with
@JakobMiethe
who will be presenting his paper "Lost in Information: National Implementation of Global Tax Agreements".
🗓️6th October | 12 pm - 1 pm (CET)
📍
@PSEinfo
& online
🌐
⁉️Have you read the 4 lines of the joint statement of the
@OECD
on substance-based carve-outs, and understood its implications?
To find out, read our new research note, available here :
👇👇👇
📰WORKING PAPER | Behavioral Responses to Special Tax Regimes for the Super-Rich: Insights from Swiss Rich Lists
@IZMartinez86
&
@eneabaselgia
estimate the sensitivity of the location choice of super-rich foreigners to a preferential tax scheme👇
💥 𝗗𝗶𝘀𝗰𝗼𝘃𝗲𝗿 𝗼𝘂𝗿 𝗻𝗲𝘄 𝗣𝘂𝗯𝗹𝗶𝗰 𝗖𝗼𝘂𝗻𝘁𝗿𝘆-𝗯𝘆-𝗖𝗼𝘂𝗻𝘁𝗿𝘆 𝗥𝗲𝗽𝗼𝗿𝘁𝘀 𝗱𝗮𝘁𝗮𝗯𝗮𝘀𝗲, reporting how much multinationals earn and pay in taxes in their countries of operation. We compiled CbCRs published by over 100 multinationals, from 2017 to 2021.
🖊️Register now for our next lunch seminar with
@laurent_bach
who will be presenting his paper "Do Billionaires Pay Taxes?"
🗓 9th June 2023 | 12pm - 1pm (CET)
📍
@PSEinfo
& online
🌐
📢 We invite you to the European Commission!
It's happening on June 1st, online on our website for the launch of the EU TAX Observatory!
1 launch, 1 press conference, 4 high-level speakers:
@PaoloGentiloni
@sven_giegold
@paultang
@gabriel_zucman
⏰ It's tomorrow!
Don't miss out on our event "Transparency and Tax Avoidance: Country-by-Country Reporting by Multinational Enterprises" from 1pm (CEST).
Watch the conference online via live stream.
More information about the event👇
Note | The Long Road to Pillar One Implementation
Our note analyses the introduction of global min. thresholds on Pillar 1 implementation. We find that thresholds can't be reached w/o enactment in the USA potentially impacting its implementation globally
"The member states of the European Union urgently need to turn the spotlight on illicit financial flows and lay the foundations for a European asset register." In a
@derspiegel
article
@SebastianMack_
@DuffyKonrad
and our researcher
@ThereFeen
explain why
📄 WORKING PAPER | Tax Avoidance and the Complexity of Multinational Enterprises
@M__francois
and
@VVicard
show that complex ownership structures enable tax avoidance by multinational enterprises - a thread 🧵
Full working paper 👇
🎤 Event | Tax Avoidance and Offshore Wealth: Policies for Tomorrow
Looking forward to our conference on tax avoidance and offshore wealth in Brussels today. We will be posting recordings of the event on our website in case you can’t make it in person.
How big is profit shifting? How much tax revenue is lost globally and in your country?
Explore recent estimates, data and explanatory notes in the EU Tax Observatory's public repository!
👇👇👇
"Multinationals are the big winners of globalization, yet their tax rates have collapsed. They must pay their fair share of taxes to ensure the sustainability of the economic system."
@gabriel_zucman
#wef23
#Davos
Watch live now👇
📄WORKING PAPER | Effective Tax Rates and Firm Size
@pierrebachas
,
@AnneBrockmeyer
,
@Roel_Dom
&
@CSemelet
study how firms use tax incentives to lower their effective tax rate (ETR) using full-population administrative tax data from 13 countries
🌐
🚨EVENT | Transparency and Tax Avoidance:Country-by-Country Reporting by Multinational Enterprises
Together with
@corptax_prague
, we are inviting submissions of papers for our workshop on transparency and tax avoidance until 20th July.
More information👇
🏆 Young Researcher Award 🏆
The winner of the 2023 Young Researcher Award is
@JohannesScheue2
, for his paper “Transfer
Pricing Strictness and the Demand for Tax Advisors” (with
@JulieBrunB
)
Congratulations for your work Johannes !!!🥳
📊Country-by-Country Reports (CbCRs) of banks provide an unprecedented data source to study banks’ use of tax havens and their effective tax rates worldwide.
Explore and download the micro dataset from the EU Tax Observatory's Public Repository!⬇️
“A modest 2% minimum tax on the wealth of global billionaires would generate about 250 billion dollars in additional tax revenue globally— that’s 250 billion dollars from just 3,000 taxpayers”,
@gabriel_zucman
#ParisPeaceForum2023
📰WORKING PAPER | Profit Shifting Frictions and the Geography of Multinational Activity
New working paper out by
@aferrari0
, Sébastien Laffitte,
@Mathieu_Parenti
&
@ToubalFarid1
on profit shifting frictions and the geography of multinational activity👇
Meet our research assistant
@sa_godar
. Sarah is responsible for developing a research and data repository for the EU Tax Observatory website—a public good for the community of researchers, journalists, and policymakers. Currently, she is doing research on corporate tax avoidance.
Sébastien Laffitte "The paper builds a new database tracking the moment when countries become tax havens to dig into the causes and consequences of tax havens. More here: "
🚨EVENT | Inheritance Taxation in the EU
📅1st July 2022 | 9.30 am - 2 pm
📍Seville, Spain
Join us online or in-person for our event focusing on inheritance taxation in the EU together with
@EU_ScienceHub
and
@socialfedea
!
Information & registration 👇
🚨EVENT | Inflation, Pandemic, Climate Change: The Urgent Need for Progressive Taxation
📅15 September, 6 pm - 7.15 pm
📍PSE, R 2.21
Join us for our event focusing on progressive
#taxation
together with
@icrict
,
@oxfamfrance
, and
@FESonline
More info➡️
🏆Excited to announce the winners of our first Young Researcher Award!
This year’s price is shared between two great papers. A paper on circumvention of the
#CRS
by Jeanne Bomare and
@LghSegal
, as well as a paper on profit shifting and employee pay by
@baptiste_sld
.
💥Register now for our next lunch seminar with
@LudvigWier
, who will be presenting his paper "Global Profit Shifting, 1975-2019" (joint work with
@gabriel_zucman
).
📅 10th February | 12pm - 1pm (CET)
📍PSE and online
More information and registration👇
📝Don't forget to register for our conference "How to Tax the Excess Profit of Energy Companies?"!
When it is?🧐 On 29th November 2022 | 6 pm - 7.30 pm
Where it is?🤔 At Paris School of Economics and online
More information and registration🤗
📅Join us in Rome on November 13th to discuss the findings and recommendations of our Global
#TaxEvasionReport
for this conference organized with
@OxfamItalia
and
@unimib
.
📍Info and registration in the link below👇
📣Join us for our online research workshop "Multinationals: Tax Avoidance and Policy Responses" co-organised with
@corptax_prague
!
🗓️25th February 14.00 - 17.00 CET
Information & registration here 👇👇👇
📄WORKING PAPER | The Compliance Effects of the Automatic Exchange of Information: Evidence from the Swiss Tax Amnesty
@eneabaselgia
studies how the introduction of multilateral automatic exchange of information in '17 affects tax compliance
Full paper⬇️
🚨 ÉVÉNEMENT | Ciné-Débat : La (Très) Grande Évasion
🎥 Mercredi 22 mars à 18h, projection du film « La (Très) Grande Evasion » à
@PSEinfo
!
✨ La projection sera suivie d'une rencontre avec
@YnnckK
,
@fabricearfi
&
@gabriel_zucman
!
Inscription 💥
🚨 Today
@Oxfam
published a new report on
#inequality
It shows how corporate profits have hit record highs: 95 food & energy corporations have DOUBLED profits in 2022 while tax rates have collapsed👇
🔴 It is urgent for multinationals to pay more in taxes!
#Davos
#wef23
Extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years. Billionaire wealth is booming, while millions struggle to survive. Let’s end this era of
#SurvivalOfTheRichest
. It’s time to
#TaxTheRich
to
#FightInequality
.
💬"On top of the existing policies, the EU Tax Observatory advocates for additional measures to fight against tax avoidance and tax evasion."
Watch the full replay of the audition on the Pandora Papers with
@ali_giulia
at the French
@Senat
here 👇👇
🚨JOB OFFER | Research Assistant(s)
We are hiring RAs for the autumn who will be closely involved in economic research on tax evasion and tax avoidance at the EU Tax Observatory.
🎓Master's degree
📄Data analysis & econometrics experience
Apply here🥳👇
🚨 Publication | Digital Service Taxes
Our new note by
@KaneBorders
,
@Sofia_BH_
,
@MonaBarake
and
@eneabaselgia
collects all publicly available data to take stock of the first few years of DST implementation - a thread 🧵
Read the full note here 👇
📢 136 countries & jurisdictions agreed on the swift implementation of a major reform of the intl. corporate tax system.
Our new note, published on Oct. 27th, presents simulations of the revenue effects of the global minimum tax of 15% laid out in this agreement.
Stay tuned!
The Workshop on the Economics of Taxation , coorganized with
@FundacioIEB
and
@ubeconomics
has started, we are going to tweet about the key messages of the presentations, let's start with the first panel, offshore wealth
🚨 EVENT | Investing in the Future of Europe: Building the EU's Own Resources
We are happy to announce the programme of our annual conference in Brussels on 30 May 2023! Join us and many great speakers to talk about tax!
Register here👇
⁉️Did you miss our online research workshop “Multinationals: Tax Avoidance and Policy Responses”?
Not a problem at all, you can watch a full replay of the research workshop here👇