Transactional

Germany's Scholz expects "revolution" in global tax rules within a few weeks

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German Finance Minister Olaf Scholz attends a news conference on the tax estimate in Berlin, Germany, May 12, 2021. Michael Sohn/Pool via REUTERS

BERLIN, May 26 (Reuters) - German Finance Minister Olaf Scholz said on Wednesday that he expected a breakthrough agreement on a global corporate minimum tax and new rules to tax cross-border digital services within a few weeks.

"We're on home straight. Negotiations are taking place almost every day and at all levels of the G20, G7 and the OECD," Scholz said in a joint virtual news conference with French counterpart Bruno Le Maire.

"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 mininum tax."

Reporting by Michael Nienaber, editing by Kirsti Knolle

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