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Next G20 meeting to make progress on how to tax tech giants
- Friday | 21st February, 2020
BERLIN (Reuters) – German Finance Minister Olaf Scholz told Reuters on Wednesday he expected financial leaders of the world’s 20 largest economies (G20) to make progress at a Riyadh meeting on a global minimum standard of taxation for companies and new tax rules for tech giants. Outdated cross-border tax rules are set to be rewritten under a joint pledge from 137 states to reform a system that has been strained to breaking point by companies like Amazon , Facebook and Google . Scholz pointed to an OECD technical-level agreement last month on global tax rules for digital companies. “The G20 finance ministers can make a big step forward now by voicing their continued support for these efforts,” he added. A draft communique prepared for the G20 meeting said that financial leaders are expecting a modest pick-up of global growth this year and next, but they also see the coronavirus epidemic as a downside risk.
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