In front of the heads s are to inform’the Minister – so even before the summit of G20 countries in Japan. As the Minister of Finance to advise on the major trade dispute. Even if it officially goes actually to tax rules.
At the G20 Meeting in the Japanese Fukuoako Federal Finance Minister Olaf Scholz expects to make progress in the fight against tax dumping and the issue is on the agenda of the summit of the G20 countries at the end of June in Osaka. Like a sword of Damocles of the Trade dispute, the US President, Trump with China and Mexico and the EU, the fence has broken, to determine the summit, however, threatens. The group of the G20 gathered together the 20 most important industrialised and emerging countries.
Before the since this Friday, and preparatory meeting of the G20 Finance Ministers and Central Bank heads of Germany and France, the German Minister, according to a proposal for an international System of minimum taxation. In order to ensure that global corporations like the big Internet companies are not able to reduce their tax burden close to zero, by shifting profits to low-tax countries. Scholz hopes of progress: “It looks as if we can win in the growing consent in the case of the Finance Ministers of many of the countries involved,” said Scholz in advance.
Professional optimist: the German Finance Minister, Olaf Scholz
Progress in digital tax?
The Meeting in Fukuoka was an important milestone, progress in tax issues will be “very possible”. Experts see it differently. The simmering trade dispute make it even more difficult to find common solutions, said about the President of the German Institute for economic research (DIW), Marcel Fratzscher.
Especially in the case of the taxation of Internet companies, the OECD, the economic organization of the industrialized countries see a need for action. Germany hopes in government circles, according to the fact that it is an agreement on the time in Japan, at least, plan to lead up to 2020.
However, even the efforts of an EU-wide digital are failed expensive so far. For a global solution, there must be first and foremost, an understanding with the United States. There the major Internet sit company. And President of the Trump sits with his very own, if often erratic Agenda.
DIW chief Fratzscher expected because, of the US-sparked trade dispute with China and Europe, the G20 Meeting over the chat: “The tragedy of trade conflict is that there are many other important issues remain on the track.” In the taxation of Internet companies, there is also little chance of an agreement, because Chinese companies would be affected.
The EU Finance Ministers see the reduction of trade disputes, the most important goal of the summit of the resort to meet colleagues from the 20 most important industrialised and emerging countries. Thus, the expected moderate recovery of the world economy could be preserved, to justify the Minister of Finance of the Reuters news Agency consulted key issues paper your goals for the Meeting this weekend. “The reduction of tensions in the trade relations requires the highest priority,” reads the paper.
The Minister of Finance in the area of security: the venue in Fukuoka, Japan
Objective: global minimum tax
A tax rule would be for the Internet companies, in the sense of the word profitable task. The three Internet giants, Microsoft, Apple and Google-the mother of the Alphabet, are now the most valuable company in the world. But digital companies mostly based in one state and be able to combine their business activities to locations with favourable tax rates, often outside of Europe. By your users, you can achieve, but around the world value-added. The EU Commission estimates that digital companies pay, on average, about nine percent corporate tax, classic enterprises, but more than 20 percent.
The German Minister of Finance, Scholz hopes now, at least to a decision-in-principle by the G20 to the distribution of taxation rights between States. In addition, it is also – once again – about how to prevent the legal tax evasion in tax havens would be. By means of the new solution concept: global minimum tax.
But the Damocles is hanging sword trade dispute. The International monetary Fund (IMF), the. Before the Ministers ‘ meeting in Fukuoka, IMF Chief Christine Lagarde wrote: “The immediate task is, the trade tensions, and to modernize the international trading system.”
ar/hb (rtr, dpa, afp)