This panorama measures the national income linked to the activity abroad of multinational enterprises, recorded in the foreign direct investment (FDI) income item of the balance of payments. Their share in world flows doubled between 1995 and 2015. They contribute positively to the current account balance of high-income countries, but negatively to that of the rest of the world. As a result, they add to the gross national income of high-income countries. The predominant role of tax havens in FDI income flows underlines the significance of tax issues in the analysis of multinationals activity. >>>