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Germany urges global minimum tax for digital giants

• https://phys.org, AFP

"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  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.

Scholz was last week nonetheless reported not to be convinced by a controversial EU proposal to slap a European tax on US  giants amid worries it may turn out to be both ineffective and protectionist.

France for a year has rallied EU partners to draw up the tax which Paris says is necessary to ensure tech giants pay their way.

Scholz explained he had launched an initiative designed to help states react to so-called fiscal dumping in support of embryonic OECD plans designed to fight tax transparency and cross-border tax evasion.

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