German Finance Minister: International Tax Dumping Competition Will End

6 May 2021

By David Barwick – Frankfurt (Econostream) – German Finance Minister Olaf Scholz on Thursday said that the days of international tax dumping were numbered.

In remarks delivered before German parliament during a debate on tax haven defence legislation, Scholz urged doing more to combat tax evasion and avoidance.

‘We have to do many, many other things in order to move forward safely and to fight the strategy of tax avoidance so that we can finance our communities’, he said. ‘That is why it is right and a great step forward that, building on everything we have achieved and accomplished in recent years, we now also have the great opportunity that there will be an international understanding on minimum taxes.’

‘I am very pleased that the process initiated by myself and my French colleague on global minimum taxation and on better taxation of digital business models will lead to a major result this summer’, he said. ‘I am firmly convinced: with the new American administration, we will now get it done. The tax dumping competition between the states will come to an end.’