Germany urges global tax for digital giants
German Finance Minister Olaf Scholz said in an interview for publication Sunday he backed a global minimum fiscal regime for multinationals as Europe looks to levy tax notably on US tech giants.
“We need a minumum tax rate valid globally which no state can get out of (applying),” Scholz, a social democrat in conservative Chancellor Angela Merkel’s coalition government, told the “Welt am Sonntag” weekly.
Europe is trying to devise a strategy to tax profits from the likes of Google, Amazon, Facebook, Apple and digital platforms such as YouTube and Airbnb which currently manage to keep fiscal exposure to a bare minimum.
Digital platforms “aggravate a problem which we know well from globalisation and which we are trying to counter — the shifting of profits to fiscally beneficial regions,” said Scholz.