Finance Minister Wolfgang Schäuble met with his French counterpart Economy Minister Bruno Le Maire on 22 May 2017 in Berlin only one week after the meeting of Federal Chancellor Angela Merkel and French President Emmanuel Macron. Both ministers agreed that Germany and France have to play a crucial role in strengthening the European Union in these currently challenging times.
Digital technologies are spreading rapidly in the financial sector. Innovations in information and communications technology are enabling new types of business models, transforming value chains and creating new distribution channels for financial services. This is leading to both opportunities and challenges for society, politics and business.
To commemorate Germany’s G20 presidency, the Federal Ministry of Finance issued a special-edition postage stamp. The stamp depicts a reef knot, which Germany selected as the logo for its G20 presidency. The special edition stamp has a value of 70 cents and entered circulation on 1 March 2017. It is available for purchase at Deutsche Post retail outlets.
On 25 January 2017, the German government approved a bill to combat harmful tax practices in connection with the assignment of rights. The aim is to stop multinational companies from using royalty payments to shift their profits to countries with special preferential regimes (known as patent box, license box or IP box regimes) that are not in line with the requirements developed by the BEPS project of the OECD and the G20.