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Unilateral adoption of transfer pricing regulations may have a negative impact on real investment by multinational corporations (MNCs). This paper uses a quasi-experimental research design, exploiting unique panel data on domestic and multinational companies in 27 countries during 2006-2014, to find that MNC affiliates reduce their investment by over 11 percent following the introduction of transfer pricing regulations. There is no significant reduction in total investment by the MNC group, suggesting that these investments are most likely shifted to affiliates in other countries. The impact of transfer pricing regulations corresponds to an increase in the ``TPR-adjusted' corporate tax rate by almost one quarter.

Corporate Finance --- Taxation --- Corporate Taxation --- International Taxation --- Business Taxes and Subsidies --- International Fiscal Issues --- International Public Goods --- Multinational Firms --- International Business --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Multinationals --- Corporate & business tax --- Transnational corporations --- Transfer pricing rules --- Corporate income tax --- Transfer pricing --- Thin capitalization rules --- Economic sectors --- Taxes --- International business enterprises --- Corporations --- Double taxation --- Bosnia and Herzegovina

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A growing empirical literature has documented significant profit shifting activities by multinationals. This paper looks at the impact of such profit shifting on real activity and tax competition. Real activity can be affected as profit shifting changes—and theoretically most likely reduces—the cost of capital. Tax competition, even over real capital, is affected, because a permissive attitude toward profit shifting can be seen as a selective tax reduction for multinationals. Tightening profit shifting rules in turn can affect tax competition through the main rate. This paper discusses these issues theoretically and with the help of a simulation to assess the impact of profit-shifting on investment, revenues, and government behavior. Using the theoretical framework, it also provides a brief overview of the related empirical literature.

United States --- Public Finance --- Taxation --- Corporate Taxation --- Taxation, Subsidies, and Revenue: General --- Business Taxes and Subsidies --- Public finance & taxation --- Corporate & business tax --- Thin capitalization rules --- Transfer pricing rules --- Corporate income tax --- Anti-avoidance rules --- Revenue administration --- Taxes --- Double taxation --- Corporations --- Revenue

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This handbook is one of the first of its kind to focus attention on effectively administering revenues from extractive industries. It provides policymakers and officials in developing and emerging market economies with practical guidelines to establish a robust legal framework, organization, and procedures for administering revenue from these industries. It discusses transparency and how to promote it in the face of increasing demands for clarity and how developing countries can strengthen their managerial and technical capacity to administer these revenues.

Natural resources --- Mineral industries --- Revenue --- Tax administration and procedure --- Taxation --- Accounting --- E-books --- Taxation. --- Duties --- Fee system (Taxation) --- Tax policy --- Tax reform --- Taxation, Incidence of --- Taxes --- Finance, Public --- Tax practice --- Tax procedure --- Government revenue --- Public revenue --- Extractive industries --- Extractive industry --- Metal industries --- Mines and mining --- Mining --- Mining industry --- Mining industry and finance --- Industries --- National resources --- Resources, Natural --- Resource-based communities --- Resource curse --- Economic aspects --- United States --- Public Finance --- International Taxation --- Natural Resource Extraction --- Natural Resources --- Agricultural and Natural Resource Economics --- Environmental and Ecological Economics: General --- Taxation, Subsidies, and Revenue: General --- Business Taxes and Subsidies --- Auditing --- Public Administration --- Public Sector Accounting and Audits --- Environmental management --- Public finance & taxation --- Management accounting & bookkeeping --- Taxation & duties law --- Natural resource taxes --- Revenue administration --- Tax administration core functions --- Transfer pricing rules --- Public finance accounting --- Environment --- Public financial management (PFM)