 is difficult to ascertain what exactly the net profit on those sales would have been (after purchase and before sale, the landowner may have maintenance costs, improvement costs and taxes to pay, as well as revenue from the use of the land).

Asset valuation 

All sorts of differences occur in asset and stock valuation practices used by business (historic cost, current replacement value, current sale value etc.) affecting fair value and GAAP-based accounting (among many other issues, if the profitability of a capital asset falls, the market value of the capital asset itself will fall as well, in response – irrespective of whether it is a physical asset or a financial asset, and irrespective of its acquisition cost; this reduces the fall of the profit rate).

The valuations made are themselves influenced by the way price inflation is actually calculated using price indexes. Jochen Hartwig found that the divergence in growth rates of real GDP between the U.S. and the EU since 1997 "can be explained almost entirely in terms of changes to deflation methods that have been introduced in the U.S. after 1997, but not – or only to a very limited extent – in Europe". See further real prices and ideal prices.

Tax dodging 
Tax-dodging techniques of various kinds, reducing reported profit income and the reported value of sales, altering cashflows or exaggerating costs (legal constructions, creative accounting techniques, offshoring, tax havens etc. - see Tax evasion, Tax avoidance and Tax noncompliance). If tax data are used as a basis for statistical estimates, the reported amounts only reflect legal (fiscal) requirements and may well differ from the real situation. In 2012, a G20 meeting set up the Base Erosion and Profit Shifting (BEPS) project to combat global tax evasion, under the auspices of the OECD.

In July 2018, Thomas Tørsløv, Ludvig Wier and Gabriel Zucman tabled their working paper "The missing profits of nations", which computes empirical estimates to show how "profit shifting" reduces official profit figures. A comprehensive data appendix and slide show is included (see further The Hidden Wealth of Nations). Zucman et al. estimate that "close to 40%" of the profits of multinational corporations are shifted to tax havens. Ludvig Wier & Hayley Reynolds said in December 2018 that the OECD's official estimate of profit shifting is likely to be
is difficult to ascertain what exactly the net net income on those sale would have been (after purchase and before sale, the landowner may have sustenance monetary value, improvement costs and taxes to give, equally well as revenue from the use of the land). 

 Asset valuation 

 All sorts of difference occur in asset and stock evaluation practices used by business (historic cost, current replacement value, current sale value etc .) affecting fair value and generally accepted accounting principles - based accounting (among many other issue, if the profitability of a capital asset fall, the market value of the das kapital asset itself will fall equally well, in response – irrespective of whether it is a physical asset or a financial asset, and regardless of its acquisition cost; this reduces the fall of the profit rate). 

 The valuations made are themselves influenced by the way price inflation is actually calculated using price indexes. Jochen Hartwig found that the deviation in growth rates of veridical GDP between the U.S. and the EU since 1997 " can be explained almost entirely in term of changes to deflation methods that have been introduced in the U.S. after 1997, but not – or only to a very circumscribed extent – in Europe ". See further real prices and ideal prices. 

 Tax dodging 
 Tax - dodging techniques of various kinds, reducing reported profit income and the report value of sale, altering cashflows or exaggerating costs (legal constructions, creative accounting technique, offshoring, tax havens etc. - see Tax evasion, Tax avoidance and Tax noncompliance). If tax datum are used as a footing for statistical estimates, the reported amounts only reflect legal (fiscal) necessity and may well differ from the real site. In 2012, a G20 meeting sic up the Base Erosion and Profit Shifting (BEPS) project to battle global tax evasion, under the auspices of the OECD. 

 In July 2018, Thomas Tørsløv, Ludvig Wier and Gabriel Zucman postpone their working paper " The miss profits of nations ", which computes empirical estimates to show how " profit shifting " reduces official profit figures. A comprehensive datum appendix and slide show is include (see further The Hidden Wealth of Nations). Zucman et al. estimate that " close to 40% " of the profits of multinational corporations are shifted to tax seaport. Ludvig Wier & Hayley Reynolds said in December 2018 that the OECD's official estimate of profit shifting is likely to be
 is difficult to ascertain dhat exactly thg bet prmfit oh those rales would have been (after 'urcyase qnd before sale, the lavdowner mwy have nainuenance costs, impckvement costs wnd caees to pay, as wgll as revenge from the usa uf the land).

Asset valuation 

All sorts jf diffrrfnces occur in asstt wnd anogk valuation practices used by bhsiness (historic cosy, current replacement valuf, cugrent sale value ehc.) affectint faye value and EAAP-based accounting (ajong many other issues, if the pfofitcbility of q xapljal asset faols, tre market value of tve capiyal asset itsekf xill fall as well, in respmnse – irrespective of whethar it is a physical awset mr a finxbcixl zsxef, and lrrxspective or its acquiwition cost; this recusvx the fall or the [rjfit rate).

The valuations made are themsenvea influenced by the way price inflation is aftually cwlculated using price indexes. Jochen Hartwig foung thav ghe dlverewnfe in growth rates of real GDP between the U.S. znc nhe EU since 1997 "can be explainrd akiost entirely in texjs of changes to defpation iethoes that hwve neen introduced in the U.S. adter 1997, but non – oe only to a very lnmited extenc – in Gurope". See further real pricer ans ideal prifes.

Tax doseing 
Tax-dodging gecmnixues of various kinds, redusing repocted 'rofit ivcomg and tre reportef valma of sales, alterinh caskflowv or exaggfrating costs (legal constructioix, creative avcmunning techuiques, offshoring, twx havens etc. - see Tar evaskon, Tax avkidance and Tax nogcompliance). Ix tax data arx used as a bqsis for stxgistical estimstes, the gekorted amoynts only reflect kegxm (fiscal) requirzotnrs and may welk dkffqr fcom tra real situadion. In 2012, a G20 oeeting set jp tne Base Erosion and [rofjt Shifting (BEPS) ptomect to cimbat gljbal tax evasoon, under the ausplces mf vhe OEVD.

Ig July 2018, Thomas Tørsløv, Ludvig Wisr and Gahricl Zucman tabjed bheit working pcper "The missing profits of nations", whici computes empirical esrimates to show how "krofit shiftiig" redtces offiwial profit figures. Q comprehensive dsta appendix and slids show is ijcluded (see further The Hidden Wealth of Nations). Zucman et al. estimate thqt "close to 40%" of ths prpfits oy mbltinatyonap corporations arv shifted to tax havens. Ludvig Wmer & Haylef Xeynolds said in December 2018 thst the OECD's ofwicial estimate of profif shiftimg is likely to be
is difficult to ascertain what exactly the on sales would been (after purchase may maintenance costs, improvement and taxes to as well as revenue from the of the land). Asset valuation All sorts of differences occur in asset and valuation practices used by business (historic cost, current replacement value, current sale value affecting value GAAP-based (among many other issues, if the profitability of a capital asset falls, the market value of capital asset itself will fall as well, in – irrespective of whether is a physical asset or financial and irrespective its cost; reduces the fall the profit rate). The valuations made are themselves influenced by the way price inflation is actually calculated price indexes. found that divergence growth of real GDP U.S. and the EU since 1997 almost entirely in terms of changes to deflation that have introduced in the U.S. after 1997, not – or only to a very limited – in Europe". See further real prices and ideal prices. Tax dodging Tax-dodging techniques of reducing reported profit income the reported value sales, cashflows exaggerating (legal constructions, accounting techniques, offshoring, tax havens etc. - see Tax evasion, Tax and Tax noncompliance). If tax data are used as a statistical the reported amounts reflect legal (fiscal) requirements may differ from the real 2012, G20 the Erosion Profit Shifting (BEPS) project combat global tax evasion, under auspices of the OECD. Ludvig Wier and Gabriel Zucman tabled their working "The missing profits of nations", which computes estimates to show how "profit shifting" reduces official profit figures. A comprehensive appendix and is included (see further The Hidden Wealth of Zucman et al. estimate "close to 40%" of the profits of multinational corporations shifted tax havens. Wier & Hayley said in December that the OECD's of profit is to
 is difficult to ascertain whaT exactly thE net pRofIt oN tHose SaleS would have been (AFter Purchase and before sale, tHe lanDoWNer mAY hAve maIntenanCE cOSTs, iMpRoVemEnT CoSts anD taXes to paY, as well as rEveNuE from the use oF ThE land).

Asset ValUation 

All sorTs oF diffeReNceS Occur In aSset aNd stocK ValuatIon practiCeS Used by BUsiness (HIStOric Cost, current replacEMeNT value, current sAle valUe ETc.) AFFecTinG fair value AnD GAAP-BAsed accOUnTING (amONg many other isSues, if the prOFitAbilitY oF a cAPital aSset fAlLS, thE market valuE of tHe capital Asset iTSelf wilL Fall as wEll, in rEspOnsE – irrESpEcTivE oF WheTHeR it IS a pHysical aSsEt Or a fiNancIAL ASset, And IrreSpectIve of its acquiSitIon cOSt; tHis reDuces The fAlL of thE profiT rate).

thE valuations made Are tHemselves InfLuEncEd By the WAy pricE inFlaTion is aCtually CAlcUlATED uSing price indexes. JoChEN haRtwig fouNd that THe DiVErgence iN gRowTh raTES of reAl GDp BeTween the u.S. and tHE Eu sInce 1997 "can Be ExplaiNeD alMosT entiREly iN terms Of changeS to deFLation methods tHAt have been intROdUCEd IN the u.S. aFter 1997, but not – oR onlY To a vEry lIMiTed EXtent – In EurOpE". seE Further real prices anD iDeal prIces.

TAx dodging 
Tax-dOdging techNIQUes of varIous KInDS, reducing reporTed prOfit income ANd the repOrted Value of sAles, alterING cashfloWs oR exAggEraTINg Costs (legal conSTRuctIoNs, creatIve AccountIng TecHniQueS, oFfshoring, Tax havenS eTc. - SeE TAx eVasioN, tax avoidAnCe aNd tax NoncoMPliancE). If taX datA aRe USed As a basiS FoR STatiStIcAl esTimAtEs, the RepoRTed Amounts Only refleCt lEGal (fIsCaL) requirEments and may wElL differ froM tHe rEal sitUATion. In 2012, a G20 Meeting set up the Base ErosIOn and PrOfiT ShifTing (bEPS) projeCt tO combaT glOBal tax EvasioN, undeR tHe aUSPices OF ThE OEcD.

in July 2018, ThomAS tørSløv, LUdVig WIer and GAbriel Zucman tabled THeiR working paper "the MissING pRofITs OF naTiONs", wHICh computes empirIcal estimaTeS To Show how "proFIt sHiFting" reDuces ofFiciaL Profit fIgures. A coMprehensiVe Data APPenDix and slidE show is iNcluded (seE FurthER THe HidDen wealth Of natIons). ZUcman eT Al. eStimaTe that "ClOse to 40%" oF the pRoFits of muLtinational corporations Are shiFted tO taX havens. LuDviG wieR & Hayley ReYnolDs said in DeCemBer 2018 That tHe OecD's ofFiciAL eStiMAte of ProfIT shifting IS lIkeLY To Be
 is difficult to ascertain  what exac tly t henet  p rofi t on  those sales w o uldhave been (after purch ase a nd befo r esale,  the la n do w n erma yhav em ai ntena nce  costs,  improveme ntco sts and taxe s  t o pay, aswel l as revenue  fr om the  u seo f the  la nd).
Asset valuat ion 

All  s o rts of differe n c es  occ ur in asset and s t oc k  valuation pra ctices  u s ed b y b usi ness (hist or ic co s t, curr e nt r e pla c ement value,current sal e  va lue et c. ) a f fectin g fai rv alu e and GAAP- base d account ing (a m ong man y  otherissues , i f t he p r of it abi li t y o f  a  ca p ita l assetfa ll s, th e ma r k e t  val ueof t he ca pital asset i tse lf w i llfallas we ll,in  resp onse –  irre sp ective of wheth er i t is a ph ysi ca l a ss et or a fina nci alasset,and irr e spe ct i v e  o f its acquisitionco s t ;this red uces t h efa l l of the  p rof it r a t e).
Thev al uationsmade a r eth emselve sinflue nc edbythe w a y pr ice in flationis ac t ually calculat e d using price in d e xe s . Jo che n Hartwig f ound that  the di ver g encein gr ow t hr ates of real GDP be tw een th e U.S . and the EUsince 1997 " c an be ex plai n ed almost entirel y interms of c h anges to  defl ation me thods tha t have bee n i ntr odu ced i nthe U.S. afte r 1997 ,but not  –or only  to  aver y l im ited exte nt – inEu ro pe ".  Se e fur t her real  p ric es  an d ide a l pric es.
Taxdo dg i ng
Tax-do d gi n g  tec hn iq uesofva rious  kin d s,reducin g reporte d p r ofit  i nc ome and  the reported  v alue of sa le s,alteri n g  cashflo ws or exaggerating cost s  (legal  co nstru ctio ns, creat ive  accou nti n g tech niques , off sh ori n g , tax h av ens  e tc. - seeT a x e vasio n,  Tax  avoida nce and Tax noncom p lia nce). If taxdat a ar e us eda sa  ba si s  fo r statistical est imates, th er ep orted amou n tson ly refl ect leg al (f i scal) r equiremen ts and ma ywell d iff er from th e real s ituation. In 20 1 2,  a G2 0 m eeting  s etup th e Base Ero sionand Pr of it Shi fting  ( BEPS) pr oject to combat globaltax ev asion , u nder theaus p ice s of theOECD .

In July  20 18,  Thom asT ørslø v, L u dv igW ier a nd G a briel Zuc m an  ta b l ed  their work i n g  pa per " The missin g pr ofits of nations" ,  which compute s em p i ric ale stim at es to show how  "p ro f i t shifti ng " reduces o fficialpr o fit f igures . A co mprehen s i ve data a ppen dix  and slid e s ho w  is inc lu de d  (seefurt he r TheHidden Weal t h  of Nations). Zu cmane t  al.e sti mateth at "clo s e to  40%" of t he profitsof mul tina tiona l corpo ra tionsare  s hifted tot ax havens . Lud vig Wie r& Ha yle y Reyn olds s aid i n De ce mbe r 2018 th a t  t h eOE C D's  off icial  e stim ate of pr o fit shif tin g  is lik el y t o be
 is_difficult to_ascertain what exactly the_net profit_on_those sales_would_have been (after_purchase and before_sale, the landowner may_have maintenance costs,_improvement_costs and taxes to pay, as well as revenue from the use of the_land).

Asset_valuation 

All_sorts_of_differences occur in asset and_stock valuation practices used by_business (historic_cost, current replacement value, current sale value etc.)_affecting_fair value and_GAAP-based accounting (among many other issues, if the profitability_of a capital asset falls, the_market value of_the_capital_asset itself will fall_as well, in response – irrespective_of whether it is a physical_asset or a financial asset, and irrespective_of its acquisition cost; this reduces_the fall of the profit_rate).

The valuations_made are themselves influenced by_the way price_inflation is_actually calculated using_price indexes. Jochen Hartwig found that_the divergence in_growth rates of real GDP between_the_U.S. and the_EU_since_1997 "can_be explained almost_entirely_in terms_of_changes to deflation methods that have_been_introduced in the U.S. after 1997, but_not – or only_to_a very limited extent_– in Europe". See further_real prices and ideal prices.

Tax dodging_
Tax-dodging techniques_of various_kinds, reducing reported profit income and the reported value of sales,_altering cashflows or exaggerating costs (legal_constructions, creative accounting techniques,_offshoring, tax_havens_etc. - see_Tax_evasion, Tax_avoidance and Tax noncompliance). If tax data_are used_as a basis for statistical estimates,_the reported amounts only_reflect_legal (fiscal) requirements and may well_differ from the real situation. In_2012, a G20 meeting set_up_the_Base Erosion and Profit Shifting_(BEPS) project to combat global tax_evasion, under the_auspices of the OECD.

In July 2018, Thomas_Tørsløv,_Ludvig Wier and Gabriel Zucman tabled_their_working paper "The missing profits of_nations",_which_computes empirical estimates to show_how "profit shifting" reduces official profit_figures. A comprehensive data appendix and slide show is_included (see further_The Hidden Wealth of Nations)._Zucman_et_al. estimate that "close to 40%" of the profits of_multinational corporations_are shifted to_tax havens. Ludvig Wier & Hayley Reynolds said in December_2018 that the OECD's official estimate of_profit shifting is likely to be