To “crack down” on tax havens and offshore financial centers, the Organisation for Economic Co-operation and Development (OECD) has promoted an internationally agreed tax standard of exchange of information on request since 2009. Using a difference-in-differences analysis, we find that the implementation of the standard significantly reduces aggressive tax avoidance by affected U.S. multinational firms with material subsidiaries in tax havens and other offshore financial centers. The effects are stronger when firms have more incentives and opportunities for income-shifting or when tax enforcement is stronger. Overall, our study helps the OECD and other regulators better understand the effect of the internationally agreed standard on corporate tax avoidance.

中文翻译：

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避税天堂和离岸金融中心是否受到打击？应要求交换信息的国际标准研究

为“打击”避税天堂和离岸金融中心，经济合作与发展组织 (OECD) 自 2009 年起推动了国际商定的应要求交换信息的税收标准。使用差异中的差异分析，我们发现，该标准的实施显着减少了受影响的美国跨国公司在避税天堂和其他离岸金融中心设有重要子公司的激进避税行为。当企业有更多的收入转移动机和机会或税收执法力度更大时，效果会更强。总体而言，我们的研究有助于经合组织和其他监管机构更好地了解国际公认标准对企业避税的影响。