October 19, 2018 / 12:30 PM / 9 months ago

German Finance Minister proposes global minimum corporate tax - Handelsblatt

FILE PHOTO: German Chancellor Angela Merkel and Finance Minister Olaf Scholz attend a session at the lower house of parliament Bundestag in Berlin, Germany, October 17, 2018. REUTERS/Fabrizio Bensch

BERLIN (Reuters) - German Finance Minister Olaf Scholz wants a global minimum corporate tax to prevent companies from shopping around for tax havens, Handelsblatt daily reported, citing a tax expert at OECD.

Scholz has asked the Organisation for Economic Co-operation & Development (OECD) to consider the proposal, the newspaper said. Countries can align tax laws according to OECD principles.

Such a move would be an extension of BEPS, a set of OECD policies to tackle tax avoidance strategies that allow multinational companies to shift profits artificially to low or no-tax locations.

Scholz coordinated his proposal closely with France, Handelsblatt said late on Thursday.

He said the proposal has been well received but talks remains at an early stage.

“In the context of the BEPS discussion, France and Germany have proposed discussing a minimum tax and making it the standard,” the paper quoted OECD tax lead Pascal Saint-Amans as saying.

The finance ministry was not immediately available for comment.

Reporting by Maria Sheahan; Editing by Matthew Mpoke Bigg

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