June 5, 2019 / 1:22 PM / 19 days ago

Germany's Scholz views G20 meeting as milestone for minimum corporate tax

German Finance Minister Olaf Scholz poses for a portrait during an interview with Reuters in his ministry in Berlin, Germany, June 5, 2019. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Finance Minister Olaf Scholz told Reuters on Wednesday that he expects progress in tax cooperation at a G20 meeting in Japan this weekend as a growing number of countries support a German-French proposal for a minimum corporate tax level.

“It looks like we can get support from many of the finance ministers of the participating countries. Japan will be a milestone,” Scholz said in a Reuters interview.

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 government is hoping that the G20 finance ministers can agree this weekend to reach a final deal on the introduction of a minimum level of corporate taxation globally by 2020.

Reporting by Michael Nienaber and Christian Krämer; Editing by Paul Carrel

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