Global corporate minimum taxes are formed

Berlin, Brussels Politics thrives on personal exchange – this is not possible in times of epidemics. Thursday time came again: Olaf Scholes boarded a flight to Lisbon to travel to the first personal meeting of Euro finance ministers.

But it was not just the business trip that put the federal finance minister in a good mood. The U.S. announced on Thursday evening that it would impose a planned global minimum tax rate of “at least 15 percent”.

“It’s really a turning point,” said Scholes in Lisbon. This is because it makes it more and more likely that the revolutionary global tax reform will actually be decided at the G20 finance ministers’ meeting in Venice in July. “We need an understanding. That will happen now, ”the vice chancellor said, adding that a deal would be a major victory in the election campaign.

U.S. corporations reduce tax burden