The Road Less Taxed

How Katarzyna Bilicka's Research is Reshaping Our Understanding of Corporate Tax Strategies

In the complex and often opaque world of international corporate taxation, Dr. Katarzyna Anna Bilicka stands as one of the leading voices bringing clarity to how multinational corporations navigate global tax systems. As the Lars Peter Hansen Associate Professor of Economics and Statistics in the Huntsman School, Bilicka's groundbreaking research has illuminated the mechanisms through which corporations structure their operations to minimize tax burdens—and the real-world consequences of these strategies.

"Corporate taxation might seem like a dry subject to many, but its implications affect virtually everyone," explains Bilicka, who was appointed Editor-in-Chief of the prestigious International Tax and Public Finance journal (ITAX) in January 2025. "When large corporations shift profits between countries to avoid taxes, it impacts government revenues, public services, and ultimately, ordinary citizens."

Notable Findings from Dr. Bilicka’s Research:

• Multinationals pay less tax than domestic firms: In a 2019 American Economic Review paper, Bilicka found that foreign multinationals operating in the UK report significantly lower taxable profits than similar domestic firms, despite operating in the same industries with comparable assets.
• Profit shifting is widespread and strategic: Her 2022 paper in the Oxford Bulletin of Economics and Statistics shows that multinational firms systematically structure their operations to report lower profits in high-tax countries, helping explain their declining tax contributions.
• Tax avoidance adapts to new rules: In a 2022 Journal of Public Economics study, she demonstrated that after the UK implemented its Worldwide Debt Cap (limiting interest deductions), companies shifted profits to other countries or adopted new avoidance strategies, high-lighting how firms adapt to anti-avoidance rules.
• Tax policy impacts labor markets: Her 2025 paper in International Tax and Public Finance found that anti-avoidance policies can affect employment and wages, showing that profit shifting can have broader economic consequences beyond revenue collection.

Bilicka's influence extends far beyond her academic publications. As a Faculty Research Fellow at the National Bureau of Economic Research (NBER) since 2021, she contributes to one of the most prestigious economic research organizations in the United States.

Her affiliations with the Centre for Economic Policy Research (CEPR) and CESifo research networks connect her to Europe’s leading economic policy circles. Her role as an International Research Fellow at Oxford University's Centre for Business Taxation—where she previously worked as a Research Fellow from 2010 to 2017—maintains her connection to one of Europe's premier centers for tax research.

In 2022, Bilicka joined the Board of Directors of the National Tax Association, the leading US organization bringing together tax professionals, academics, and policymakers. That same year, she became an Associate Research Fellow at the Tax Justice Network, an organization focused on promoting transparency in international finance and tax systems. These platforms provide her with the opportunity to shape debates on tax fairness and economic development, reinforcing her status as a globally respected scholar.

"Being part of these diverse networks allows me to bridge the gap between academic research and practical policy applications," Bilicka says. "The goal isn't just to publish papers but to contribute to meaningful policy changes that create fairer tax systems."

In 2025 alone, her research has been or will be presented at the American Economic Association annual meeting in San Francisco, Stanford, UC Berkeley, Shanghai Jiao Tong University, and the CEPR Public Economics Symposium in Cologne.

In 2024, her work was showcased at prestigious institutions across the United States, Canada, and Europe, including the University of Michigan, Columbia Law School, Michigan State University, McMaster University, University of Mannheim, and Charles University Prague.

Particularly notable was her 2022 keynote address at the EU Tax Observatory conference at Charles University in Prague, highlighting her status as a leading voice in European tax policy discussions. Her regular invitations to numerous workshops and conferences in Europe further underscore the importance of her work to tax policy discussions. In the last 3 years alone, she has presented at conferences in Oxford, Munich, Lisbon, Prague, Bergen, Warsaw, Venice, Brussels, and Manchester. Her regular appearances at NBER workshops and US-based conferences further cement her influence in U.S. policy circles.

The Path Forward: Continuing Impact

As global efforts to reform international corporate taxation gain momentum, Bilicka's research provides crucial evidence to inform these initiatives.

"The field of international taxation is rapidly evolving,"Bilicka concludes. "My hope is that our research helps create tax systems that are both efficient and equitable—supporting public services while allowing businesses to thrive without artificial distortions.”