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Germany's Scholz expects G20 progress on tax rules for tech giants

19 February 2020 22:47 (UTC +04:00)

German Finance Minister Olaf Scholz told Reuters on Wednesday he expected financial leaders of the world’s 20 largest economies (G20) to make progress at a Riyadh meeting on a global minimum taxation for companies and new tax rules for tech giants, APA reports citing Reuters.

Asked if the G20 finance ministers and central bankers would discuss an international action plan to shield the world economy from any negative impact of the coronavirus epidemic, Scholz said: “We have to be ready to act if necessary, but for now we are still monitoring developments and we just have to agree that we have to tackle joint problems together.”

Scholz added there were no signs of Europe’s largest economy entering a recession despite the coronavirus epidemic and that Berlin was sticking to its GDP growth forecast of 1.1% this year.