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Do foreign tax evaders use the United States as a tax haven?
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2019 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

Tax havens are of signicant importance in the current global economy. The wealth hidden in these havens is estimated to add up to $6000 billion and this issue is linked with wealth inequality and money laundering. Identication of tax havens differs between sources, and blacklists are often politicised. Activists, experts and academics have claimed recently that the US serves as a tax haven for foreign tax-evading households. The tax environment in the US does favor foreigners; they are for example exempt from paying taxes on interest income generated by bank deposits and it is easy to set up entities hiding the identity of the ultimate owner. The effects of two international initiatives implemented to battle tax evasion in offshore centres are studied in this paper. These are the European Savings Directive and the Common Reporting Standard, under which the US does not cooperate. Using bilateral cross-border bank deposit data, it is estimated whether tax evaders moved their wealth to the US as a result of these measures. The results of the difference-in-difference approach neither confirm nor reject the claims that the US is being used as a tax haven by foreign households. Estimates on the effects in cooperating tax havens can not rule out the possibility that the Common Reporting Standard did not have its intended effect on tax evaders.

Place, publisher, year, edition, pages
2019. , p. 48
Keywords [en]
tax havens, tax evasion, capital flight, European Savings Directive, Common Reporting Standard
National Category
Economics
Identifiers
URN: urn:nbn:se:uu:diva-388823OAI: oai:DiVA.org:uu-388823DiVA, id: diva2:1335420
Subject / course
Economics
Educational program
Master Programme in Economics
Supervisors
Available from: 2019-07-05 Created: 2019-07-05 Last updated: 2019-07-05Bibliographically approved

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CiteExportLink to record
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Citation style
  • apa
  • ieee
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Language
  • de-DE
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Output format
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