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Ludvig Wier
Ludvig Wier is a Ph.D. candidate at the University of Copenhagen. His research focuses on international taxation and development. In that context, he is also working as a consultant to the UNU-WIDER (United Nations University – World Institute for Development Economics Research), International Monetary Fund (IMF) and the National Treasury in South Africa. Finally, Ludvig is the founder and chairman of Economists Without Borders – a non-profit delivering free consultancy to charitable projects.
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The missing profits of nations
Between 1985 and 2018, the global average statutory corporate tax rate fell by more than half. This article uses new macroeconomic data to argue that profit-shifting is a key driver of this decline. Close to 40% of multinational profits were artificially shifted to tax havens in 2015, and this massive tax avoidance – and the failure to curb it – are in effect leading more and more countries to give up on taxing multinational companies.
