All G20 members on board with tax deal: German Finance Minister Scholz

German Finance Minister Scholz. Credit: AFP Photo

The G20 has made big progress on reforming business tax, with every member of the club of large economies backing a deal to stop multinationals shifting profits to low-tax havens, German Finance Minister Olaf Scholz said on Saturday.

"Today, we see that all the countries that are coming together here will support this international process in finding a way to a minimum taxation," Scholz told reporters at a meeting of G20 finance ministers in Venice.

Also Read | What you need to know about global minimum tax deal

Asked about plans for a European Union digital levy, Scholz said a global solution is what was needed.

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