Has Aggregate U.S. Outbound Income Shifting Decreased in Recent Years?
Has U.S. outbound income shifting—where corporations transfer income from the U.S. to foreign tax havens—decreased following the Tax Cuts and Jobs Act of 2017? Using data from both the Bureau of Economic Analysis and firm-level sources, this analysis tracks the share of U.S. corporate profits recognized in tax haven jurisdictions over nearly three decades to assess recent trends.