Germany's Scholz hails "historic" G7 tax deal

German Finance Minister Olaf Scholz hailed a "historic" G7 agreement on corporate minimum taxation which he said meant companies would no longer be able to dodge tax by booking profits in low-tax countries.

"The G7's decision on international tax justice is historic," he said in a statement on Saturday. "It is very good news for tax justice and solidarity and bad news for tax havens around the world."

The next step would be to discuss the G7's agreement with a broader set of partners in the Organisation for Economic Cooperation and Development and the G20 group of major economies, he added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)