June 4, 2019 / 10:03 AM / 3 months ago

German official: We'll push for minimum corporate taxation at G20 meeting

BERLIN, June 4 (Reuters) - The German government will use the G20 finance ministers’ meeting in Japan this weekend to make the case for a German-French proposal to introduce a minimum level of corporate taxation globally, a German official said on Tuesday.

The official told reporters that the German government was hoping the G20 finance ministers could agree this weekend to reach a final agreement on the issue by 2020.

The Organisation for Economic Cooperation and Development is working on plans for a minimum corporate tax rate as part of a global revision of tax rules for the digital era.

The emergence of digital giants like Google and Facebook has pushed international tax rules to the limit because they can book profits in countries with the lowest taxes no matter where the customer is.

The German official said a bilateral meeting between German Finance Minister Olaf Scholz and U.S. Treasury Secretary Steven Mnuchin was planned for the sidelines of the G20 meeting in Japan.

Reporting by Christian Kraemer Writing by Michelle Martin Editing by Paul Carrel

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