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Major changes in the way tech giants like Apple are taxed will probably occur sometime in 2021, the German finance minister has warned, with an international agreement highly likely to be struck before the summer.
For years, governments around the world have grappled with the problem of properly taxing major multinational organizations such as Apple, Google, and Amazon, which minimize the amount of tax paid by taking advantage of existing rules. According to German finance minister Olaf Scholz, change may be on the horizon.
Scholz suggests it is quite possible that a deal between governments on tax reform targeting the tech giants could occur in 2021, in part driven by the installment of the Biden Administration in the White House.