| Title |
Offshore companies’ participation in strategic state projects and their impact on state budget revenue / |
| Authors |
Gaidelys, Vaidas |
| DOI |
10.3846/cibmee.2019.027 |
| ISBN |
9786094761614 |
| eISBN |
9786094761621 |
| Full Text |
|
| Is Part of |
Contemporary issues in business, management and economics engineering : international scientific conference (CIBMEE-2019), May 9-10, 2019, Vilnius, Lithuania.. Vilnius : Vilnius Gediminas Technical University, 2019. p. 266-274.. eISSN 2538-8711. ISBN 9786094761614. eISBN 9786094761621 |
| Keywords [eng] |
offshore companies ; strategic projects ; corruption ; state budget tax revenue |
| Abstract [eng] |
Purpose – to assess possible consequences of the employment of offshore companies in strategic state projects. Research methodology – empirical research statistical data analysis. This publication introduces scientific research on the case of employment of offshore companies in strategic state projects and assesses its possible damage to state budget revenue. Findings – offshore financial centres specialise in serving particular economic sectors. Research limitations – although developed countries suffer the most significant tax revenue losses, they promote the establishment of offshore centres. Countries do not learn from their mistakes, especially in terms of tax evasion through offshore companies. Practical implications – by employing offshore companies in its strategic projects, Lithuania supports the double standards and the principle that what the state is allowed to do, private business is not. By taking advantage of offshore companies, corruption offences can be financed. Originality/Value – this article introduces the new empirical research on employment of offshore companies in strategic state projects. |
| Published |
Vilnius : Vilnius Gediminas Technical University, 2019 |
| Type |
Conference paper |
| Language |
English |
| Publication date |
2019 |
