Germany optimistic OECD will keep making progress on global taxation issue


Deputy German Finance Minister Joerg Kukies on Monday expressed optimism that global discussions aimed at setting up a new framework for international taxation would continue to make progress in coming months.

Nearly 140 countries agreed on Friday to keep negotiating until mid-2021 on the first major rewriting of cross-border tax rules in a generation after talks got bogged down this year due to the coronavirus outbreak and U.S. reticence as the presidential election neared.

Kukies told a conference hosted by the Institute of International Finance that a global agreement was needed to avoid fragmentation across the world.