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5/26, 4:51 PM (Source: TeleTrader)
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Scholz: Global min. corporate tax agreement 'very close'

German Finance Minister Olaf Scholz (pictured) stated during a virtual news conference on Wednesday that he is expecting a breakthrough in an agreement about a global corporate minimum tax "within a few weeks". He said the parties involved will ensure that digital companies pay a fair tax share.

"Negotiations are taking place almost every day and at all levels of the G20, G7. [...] I have a very good feeling that in just a few weeks we will agree on a revolution in international corporate taxation, namely a reallocation of taxing rights and a global minimum tax," Scholz said.

Earlier that day he shared his optimism that countries of the Organisation for Economic Co-operation and Development (OECD) will reach an agreement by the end of summer.

Breaking the News / LH