The international tax debate is centered on the idea that multinational corporations (MNCs) are saving taxes by shifting income from high-tax to low-tax jurisdictions. Nevertheless, recent evidence finds that domestic-only firms are equally tax-efficient as MNCs, suggesting the existence of important local (i.e., within-country) tax strategies. To gauge the relative importance of local versus total tax avoidance, we study an international sample of parent and subsidiary-level data. We find that subsidiary local tax avoidance explains between 14-29 percent of total MNCs tax avoidance. Furthermore, the relative importance of subsidiary local tax avoidance has more than doubled over the study period and the effect is largest in countries that introduced transfer pricing documentation requirements. Finally, MNCs focus more on subsidiary local tax avoidance when profit shifting costs are higher. Our results have important implications for tax research and public policy debates on the complexity of global tax avoidance opportunities and behavior.