G20 finance ministers decide on global tax reform | free press

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The federal finance minister speaks of a “great historic moment”. After all, 131 countries have approved plans for a global tax reform. Among other things, large digital companies are affected.

Venice (dpa) – According to Vice-Chancellor Olaf Scholz (SPD), the finance ministers of the major industrial and trade countries have decided on a global tax reform with minimal taxes for large companies.

During the meeting with his G20 colleagues in Venice on Saturday, Scholz spoke of a “great historic moment”. “The G20 countries now agree that they want to agree a new regime for international taxation,” he said. At the end of the ministerial debate there was applause from the stage.

At the working level, 131 countries around the world have already approved the plans. The minimum tax of 15 percent is intended to prevent companies from moving their headquarters to low-tax countries and to prevent states in competition from lowering their corporate taxes. In addition, international companies will in future not only have to pay taxes in their home country, but also where they do good business. This affects large digital companies, among others, who have often paid very little taxes in general so far.

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