Andrew Hayashi

Putting a Face to International Tax Avoidance



The world of international tax avoidance is a colorful one. There are the legal structures, with names like the “Double Irish Dutch Sandwich,” the exotic locales, like Bermuda and the Cayman Islands, and the identity crises presented by “hybrid” entities and financial instruments. But rarely does international tax avoidance have a human face and one could be forgiven for getting the impression that falling effective corporate tax rates are as inevitable as water flowing downhill. Corporations, acting in the interests of their shareholders, maximize their after-tax profits. States, acting in the best interests of their residents, set tax policies that are incongruous with the policies of other states. The “bad actors,” if there are any in this story, are corporate aggregates of one sort or another, multinational corporations and tax haven countries.


Andrew Hayashi, Putting a Face to International Tax Avoidance (reviewing Omri Marian, The State Administration of International Tax Avoidance (7 Harv. Bus. L. Rev. [2017])) JOTWELL (2016).

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