According to Reuters, German Chancellor Merkel said on the 26th that she hoped to strengthen cooperation with Biden’s new government on the taxation of digital companies.
According to the report, Merkel said during a videoconference of the Economic Cooperation Organization (OECD) on the same day, “I hope that together with the new U.S. government, we can continue and strengthen the work of the OECD on the minimum tax rate for digital enterprises.”
Merkel added that she hoped that “we will once again succeed in establishing the core of competition regulations on a global scale and preventing monopolies.”
The report mentioned that last year, the OECD said that member countries had reached an agreement on cross-border taxation, forming an agreement blueprint.
The OECD said that this will change the way multinational companies pay taxes and increase tax revenue by $100 billion worldwide. If member countries finally solve the cross-border tax problem in the next 12 months, a new framework agreement will be formulated.