Band Finance Minister Olaf Scholz celebrates the agreement on a global tax reform at the G20 finance ministers' meeting in Venice. But as is so often the case with such agreements, especially when so many countries are involved, the devil is in the details. Because the question is: 15 percent of what?
The answer is decisive for how much tax competition there will be between states in the future. Some low-tax countries are already looking for ways in which they can remain attractive to corporations from abroad.