German finance minister expects digital tax reform to take time

VIENNA (Reuters) – Germany’s Finance Minister Olaf Scholz said on Saturday a European tax overhaul to increase levies on large digital firms will need time to be agreed, but insisted a solution was needed. In a joint press statement with Scholz, French finance minister Bruno Le Maire said he will propose adding “a sunset clause” to a European Union plan for a 3 percent tax on the digital turnover of large firms to EU finance ministers meeting in Vienna. 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– Germanyu0027s Finance Minister Olaf Scholz said on Saturday a European tax overhaul to increase levies on large digital firms will need time to be agreed, but insisted a solution was needed.u003c/pu003enu003cpu003eIn a joint press statement with Scholz, French finance minister Bruno Le Maire said he will propose adding “a sunset clause” to a European Union plan for a 3 percent tax on the digital turnover of large firms to EU finance ministers meeting in Vienna.u003c/pu003enu003cpu003eUnder his proposal, the new tax, which has not been agreed yet, would end once a deal is reached at global level on the reform of the taxation of digital companies. u003c/pu003enu003cpu003eu003c/pu003en”,”attribution”:{“type”:”default”,”content”:”Reporting by Francesco Guarascio and Francois Murphy; Editing by Alexander Smith”},”images”:[{“url”:”//s3.reutersmedia.net/resources/r/?mu003d02u0026du003d20180908u0026tu003d2u0026iu003d1302140956u0026ru003dLYNXNPEE870AQ”,”title”:”FILE PHOTO: Weekly cabinet 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