Country-year and industry-year estimates of profit shifted by multinational enterprises, 2009–2020.
Based on Delis, Delis, Laeven & Ongena, Journal of Accounting and Economics (2025).
2020
Drag the slider to change year (2009–2020).
How to read the map.
Select a GUO (Global Ultimate Owner) country and a year.
The map shows lowest-tax jurisdictions linked to MNE groups whose parent firm is in the selected GUO country.
Shaded countries with bubbles are those lowest-tax jurisdictions. Bubble size reflects the estimated profit shifted for that GUO × lowest-tax country combination. Values are group-level aggregates, not bilateral profit flows.
The selected GUO country itself appears unshaded and without a bubble.
Light grey countries have no estimate for the selected combination.
Yearly profit shifted by MNEs for each selected (GUO country · lowest-tax jurisdiction) combination.
Pairs are ranked by all-time total across 2009–2020; the 20 largest are shown. Values are in billions of US dollars.
2020
Drag the slider to change year (2009–2020).
Top-10 GUO industries by profit shifted in the chosen year.
Industries here refer to the Global Ultimate Owner's (parent firm's) industry classification under NACE Rev. 2 — not the industry of the lowest-tax subsidiary. The top-ranked industry is highlighted in navy. Values are in billions of US dollars.