Shafik Hebous

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Shafik Hebous

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Bibliographic details

• Authors: Shafik Hebous

Biography

Shafik Hebous is a Deputy Division Chief in the IMF’s Fiscal Affairs Department, where he works on tax policy, public finance, and their links to investment and economic growth. He leads and contributes to policy advice, capacity development, and analytical work across a wide range of advanced, emerging market, and developing economies, including work for the IMF’s flagship Fiscal Monitor. His research focuses on public finance, including the taxation of multinational companies and the implications of emerging technologies for tax policy, and has been published in leading academic journals, including the Journal of Monetary Economics, Journal of Public Economics, and American Economic Journal: Economic Policy.

Shafik holds a Ph.D. in Economics from Goethe University Frankfurt in Germany. He has served as an Adjunct Professor at Oslo Fiscal Studies at the University of Oslo and as an Assistant Professor at Goethe University Frankfurt. He has also been a visiting researcher at institutions including the University of California, Berkeley, the Oxford University Centre for Business Taxation, and the Deutsche Bundesbank. Shafik was born in Syria and holds German and Syrian citizenship.

Profile

Education

• PhD in Economics, Goethe University Frankfurt, 2010

Field of Expertise

• International Trade

• Development Economics

• Open Economy Macroeconomics

• Public Finance

IMF Occasional Papers, Pamphlets, and Special Issues Papers

• International Corporate Tax Reform

• Coordinating Taxation Across Borders, Fiscal Monitor, Chapter 2, April 2022.

• - Corporate Taxation in the Global Economy, IMF Policy Papers, March 2019

• - Tax Policy, Leverage and Macroeconomic Stability, IMF Policy Papers, October 2016

• - Fiscal Policies for Innovation and Growth, Fiscal Monitor, Chapter 2, April 2016

• - Taxing Multinationals in Europe, IMF European and Fiscal Affairs Departments, May 2021

IMF Direct Blog Posts

• Crypto Poses Significant Tax Problems—and They Could Get Worse, with (Katherine Baer, Ruud de Mooij, and Michael Keen)

• Tax Coordination Can Lead to a Fairer, Greener Global Economy (with Vitor Gaspar and Paolo Mauro)

IMF Publications

IMF Books and Working Papers

• Taxing Cross-Border Services, Working Paper No. 2026/152 , July 17, 2026

• Taxing Mobile Money: Theory and Evidence, Working Paper No. 2025/255 , December 5, 2025

• Efficiency Aspects of the Value Added Tax, Working Paper No. 2025/165 , August 22, 2025

• Deciphering the GloBE in a Low-Tax Jurisdiction, Working Paper No. 2024/064 , March 22, 2024

• Efficient Economic Rent Taxation under a Global Minimum Corporate Tax, Working Paper No. 2024/057 , March 15, 2024

• How to Tax Wealth, How-To Note No 2024/001 , March 8, 2024

• Cryptocarbon: How Much Is the Corrective Tax?, Working Paper No. 2023/194 , September 15, 2023

• Taxing Cryptocurrencies, Working Paper No. 2023/144 , July 5, 2023

• Excess Profit Taxes: Historical Perspective and Contemporary Relevance, Working Paper No. 2022/187 , September 16, 2022

• Revenue Mobilization for a Resilient and Inclusive Recovery in the Middle East and Central Asia, Departmental Paper No 2022/013 , July 6, 2022

• Pareto-Improving Minimum Corporate Taxation, Working Paper No. 2021/250 , October 22, 2021

• Taxing Multinationals in Europe, Departmental Paper No 2021/012 , May 25, 2021

• Capital Income Taxation in the Netherlands, Working Paper No. 2021/145 , May 20, 2021

• Does a Wealth Tax Improve Equality of Opportunity? Evidence from Norway, Working Paper No. 2021/085 , March 19, 2021

• How Does Profit Shifting Affect the Balance of Payments?, Working Paper No. 2021/041 , February 19, 2021

• Global Firms, National Corporate Taxes: An Evolution of Incompatibility, Working Paper No. 2020/178 , September 4, 2020

• Exploring Residual Profit Allocation, Working Paper No. 2020/049 , February 28, 2020

• Revenue Implications of Destination-Based Cash-Flow Taxation, Working Paper No. 2019/007 , January 15, 2019

• A Destination-Based Allowance for Corporate Equity, Working Paper No. 2018/239 , November 8, 2018

• Italy: Toward a Growth-Friendly Fiscal Reform, Working Paper No. 2018/059 , March 16, 2018

• Curbing Corporate Debt Bias, Working Paper No. 2017/022 , January 30, 2017

• Can Government Demand Stimulate Private Investment? Evidence from U.S. Federal Procurement, Working Paper No. 2016/060 , March 10, 2016

Selected Issues

• - Germany — Tax Pressures and Reforms Options, July 2019

• - Fiscal Federalism in Switzerland, June 2019

• - Capital Income Tax Reform Options in Denmark, June 2018

• - Taxation of Corporations in Switzerland, May 2018

• - A Review of Capital Taxation in France, September 2017

• - Growth-Enhancing Corporate Tax Reform in Belgium, March 2017

Other Published Materials

• - How To Tax Wealth? (with Alexander Klemm, Geerten Michielse, and Carolina Osorio Buitron), How-To Note No. 2024/001, March 2024

• Lebanon: Putting Tax Policy Back on Track, (with Svetlana Cerovic, Michael Keen, Lydia Sofrona, Nate Vernon, and Christophe Waerzeggers), Technical Assistance Country Report No. 2023/008, January 2023

• - Romania: Reforming Personal Income Taxation, (with Naomi Feldman, Jean-Francois Wen, and Philippe Wingender), Technical Assistance Country Report No. 2022/199, June 2022.

• - Maldives — Reform Options to Strengthen Tax Policy, (with Lee Burns and John Norregaard), Technical-Assistance-Report (No. 19/196), IMF, 2019.

Non-IMF Publications

Publications in Journals (Referred)

• Pareto-Improving Minimum Corporate Taxation, (with Michael Keen), Journal of Public Economics, 2023, vol. 225, 104952.

• Taxing Cryptocurrencies, (with Katherine Baer, Ruud de Mooij, and Michael Keen), Oxford Review of Economic Policy, 2023, vol. 39(3), pp. 478–497.

• Exploring Residual Profit Allocation, (with Sebastian Beer, Ruud A. de Mooij, Michael Keen, & Li Liu) American Economic Journal: Economic Policy, 2023, vol. 15(1), pp. 70–109.

• Do Audits Improve Future Tax Compliance in the Absence of Penalties? Evidence from Random Audits in Norway (with Zhiyang Ji, Knut Løyland, Thor O. Thoresen & Arnstein Øvrum), Journal of Economic Behavior and Organization, 2023, vol. 70, pp. 305–326.

• - Can Government Demand Stimulate Private Investment? Evidence from U.S. Federal Procurement (with Tom Zimmermann) Journal of Monetary Economics, 2021, vol. 128, pp. 178–194.

• - Revenue Implications of Destination Based Cash Flow Taxation (with Alexander Klemm and Saila N. Stausholm) IMF Economic Review, 2020, vol. 68, pp. 848–874.

• - A Destination-Based Allowance for Corporate Equity (with Alexander Klemm) International Tax and Public Finance , 2020, vol. 27, 753–777

• - Curbing Corporate Debt Bias: Do Limitations to Interest Deductibility Work? (with Ruud De Mooij), Journal of Banking and Finance , 2018, vol. 96, 368–378.

• - Revisiting the Narrative Approach of Estimating Tax Multipliers (with Tom Zimmermann) Scandinavian Journal of Economics, 2018, vol. 120, pp. 428–439.

• - Evaluating the Effects of ACE Systems on Multinational Debt Financing and Investment (with Martin Ruf ) Journal of Public Economics, 2017, vol. 156, pp. 131–149.

• - Estimating the Effects of Coordinated Fiscal Actions in the Euro Area (with Tom Zimmermann) European Economic Review, 2013, vol. 58 (Feb), 110–121.

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