Germany's Scholz wants global tax floor to stop evasion

Economy 13:51 21.10.2018
Germany’s Finance Minister Olaf Scholz has proposed a global minimum rate of corporation tax coupled with tougher measures to prevent tax evaders from stashing their profits in tax havens, newspaper Welt am Sonntag reported.
 
In a guest article for the Sunday paper, extracts from which were made available on Saturday, Scholz fleshed out proposals that he was considering jointly with France to make it harder for international firms to evade tax.
 
Both countries are seeking ways to ensure that firms like Amazon, Apple and Google pay domestic taxes in proportion to the profits they earn in Europe’s largest markets, though attempts to harmonize tax rates across the European Union have met stiff resistance from lower-tax members like Ireland.
 
“We need a worldwide minimum tax level that no state may go below,” Scholz said in the article, adding that any such rules would need to be accompanied by measures to make it harder to move money into tax havens.
 
Scholz said the internet economy “was exacerbating a problem that we recognize from globalization and that we are trying to address: the placing of profits in low-tax locations.”
 
Germany, Europe’s largest consumer market, is particularly fertile ground for U.S.-based internet giants, many of which have used offshore structures to minimize their tax exposure to what remains a relatively high-tax economy.
Azerbaijan Defense Minister informs NATO chief on situation in Azerbaijan-Armenia conditional border -VIDEO

News line

North Korea holds firing drill using super-large multiple rocket launchers
North Korea holds firing drill using super-large multiple rocket launchers
11:55 19.03.2024
Fenerbahçe to discuss withdrawing from 'Super Lig'
11:32 19.03.2024
Azerbaijani police found numerous weapons and ammunition in Khankandi
11:08 19.03.2024
US Maritime Administration issues new advisory amid rising maritime threats in Middle East
10:55 19.03.2024
EU looks forward to cooperation with Azerbaijan for successful COP29
10:38 19.03.2024
EU to impose tariffs on Russian grain
10:11 19.03.2024
Embassy of Azerbaijan in France appeals to Azerbaijanis
10:00 19.03.2024
Azerbaijani oil price exceeds $88
Azerbaijani oil price exceeds $88
09:48 19.03.2024
Mehriban Aliyeva makes post on Last Tuesday before Novruz Holiday
09:35 19.03.2024
Pashinyan: Delimitation process between Armenia and Azerbaijan entered practical stage
09:00 19.03.2024
Pakistan restricts foreign travels of ministers, government officials
Pakistan restricts foreign travels of ministers, government officials
20:39 18.03.2024
EU to boost military support fund for Ukraine by EUR 5 bln — Hungarian foreign minister
20:00 18.03.2024
Industrial zones to be created in Azerbaijan’s Zangilan, Jabrayil, and Gubadli
19:16 18.03.2024
Reuters: Only an oil slump can stop Russia
19:00 18.03.2024
Top Hamas operative killed in hospital raid, IDF says
Top Hamas operative killed in hospital raid, IDF says
18:33 18.03.2024
President Ilham Aliyev congratulates people of Azerbaijan on occasion of Novruz holiday - UPDATED
18:00 18.03.2024
Jens Stoltenberg: We fully support Georgia's sovereignty and territorial integrity
Jens Stoltenberg: We fully support Georgia's sovereignty and territorial integrity
17:47 18.03.2024
2 dead, 6 injured in Türkiye factory explosion
2 dead, 6 injured in Türkiye factory explosion
17:28 18.03.2024
Armenia’s anti-Russian policy reaches new level
17:11 18.03.2024
"The Middle Corridor plays a key role for Green Energy" - Expert Ali Pasha
16:45 18.03.2024
Central square of Khankandi named “Victory Square”
16:22 18.03.2024
President: We demonstrated tremendous heroism during the II Karabakh War and the anti-terror operation
16:16 18.03.2024
Nobel Peace Prize Laureate Muhammad Yunus visited IEPF - PHOTOS - VIDEO
16:00 18.03.2024
Historic opportunity emerged to advance the Azerbaijani-Armenian peace agenda - FM Bayramov
15:21 18.03.2024
Bayramov and Stoltenberg discuss normalization process between Azerbaijan and Armenia
15:03 18.03.2024
Azerbaijan Defense Minister informs NATO chief on situation in Azerbaijan-Armenia conditional border -VIDEO
14:58 18.03.2024
Stoltenberg's visit to the Caucasus: "NATO is in panic" - OPİNİON
14:29 18.03.2024
Hikmat Hajiyev holds discussions for upcoming COP29 with Chinese Vice FM
Hikmat Hajiyev holds discussions for upcoming COP29 with Chinese Vice FM
14:00 18.03.2024
Stoltenberg concludes his official visit to Azerbaijan
13:42 18.03.2024
Geomagnetic storm expected on March 20
13:33 18.03.2024
Mbappe celebrates his 250th goal in PSG
Mbappe celebrates his 250th goal in PSG
13:19 18.03.2024
President Ilham Aliyev makes a phone call to Vladimir Putin
13:00 18.03.2024
President Ilham Aliyev lit Novruz bonfire in Khankandi and congratulated Azerbaijani people
12:34 18.03.2024
Foreign students attacked in India over Ramadan prayers
12:30 18.03.2024
Spring comes to Northern Hemisphere
Spring comes to Northern Hemisphere
12:17 18.03.2024
Why does Azerbaijan matter to the European Union? - OPINION
12:00 18.03.2024
Number of human remains found in mass grave in Khojaly reaches 19
11:45 18.03.2024
Hikmat Hajiyev meets Pakistani envoy to China
Hikmat Hajiyev meets Pakistani envoy to China
11:33 18.03.2024
EU Council to discuss Armenian-Azerbaijani normalization
11:23 18.03.2024
Global Terrorism Index: Azerbaijan among countries with highest anti-terror rating worldwide
10:56 18.03.2024
Hamısı