Global Tax 50 2014: Wolfgang Schäuble
International Tax Review is part of the Delinian Group, Delinian Limited, 4 Bouverie Street, London, EC4Y 8AX, Registered in England & Wales, Company number 00954730
Copyright © Delinian Limited and its affiliated companies 2024

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Global Tax 50 2014: Wolfgang Schäuble

German finance minister

Wolfgang Schäuble

Wolfgang Schäuble was also in the Global Tax 50 2011

As Minister of Finance for Europe's largest and most economically influential state, Wolfgang Schäuble has a big say in tax matters across the European Union (EU). Very little progress is made in the EU on any issue without Germany weighing in, and on tax matters Schäuble vocally represents his country in his own inimitable way. Born in Freiburg im Breisnau and the son of a tax adviser, Schäuble is a qualified lawyer and has worked in the German tax administration, providing him with useful knowledge to ensure Germany's tax interests are protected in the EU.

A key battleground upon which Germany has voiced its opinion in the past 12 months is intellectual property (IP) regimes across Europe, challenging the UK's Patent Boxregime in particular.

Schäuble does not regard patent box regimesas conforming to the "European spirit", and rather than implement a patent box regime of its own, similar to that of the UK or Netherlands, for example, Germany has opted to try and discourage the use of such legislation in the EU.

November's G20 finance ministers meeting provided the setting for Schäuble to take the UK to task on its IP regime. The UK agreed to reduce the scope of its Patent Box legislation so that it will only apply to research and development and innovation activity within the UK. Similar restrictions are likely to be extended to other European patent box regimes.

When he and fellow Global Tax 50 2014 entrant George Osborne, Schäuble's UK counterpart released a joint statement, the German said: "More and more countries are speaking out against allowing too much leeway for large multinationals to minimise their taxes. Just because something is legal, does not mean it is fair in tax terms.".

Other areas where Germany has been vocal include the proposed financial transaction tax (FTT) and Luxembourg's tax regime.

Schäuble was a key critic of the Luxembourgish system, saying that the country had "a lot to do", and reiterating his point that just because something is "legally possible", it is not necessarily fair.

In conjunction with his Italian and French counterparts, Pier Carlo Padoan and Michel Sapin, Schäuble recently penned a letter to the EU urging it to take action to limit aggressive tax avoidance on the part of member states and aggressive tax avoidance on the part of businesses, as well as increasing tax harmonisation.

Germany is one of the 11 countries involved in the conception of the FTT, and Schäuble has emphasised that although progress may be slow, "a small first step is better than none".

The Global Tax 50 2014

View the full list and introduction

Gold tier (ranked in order of influence)

1. Jean-Claude Juncker  2. Pascal Saint-Amans  3. Donato Raponi  4. ICIJ  5. Jacob Lew  6. George Osborne  7. Jun Wang  8. Inverting pharmaceuticals  9. Rished Bade  10. Will Morris

Silver tier (in alphabetic order)

Joaquín AlmuniaAppleJustice Patrick BoyleCTPAJoe HockeyIMFArun JaitleyMarius KohlTizhong LiaoKosie LouwPierre MoscoviciMichael NoonanWolfgang SchäubleAlgirdas ŠemetaRobert Stack

Bronze tier (in alphabetic order)

Shinzo AbeAlberto ArenasPiet BattiauMonica BhatiaBitcoinBonoWarren BuffettECJ TranslatorsEurodadHungarian protestorsIndian Special Investigation Team (SIT)Chris JordanArmando Lara YaffarMcKessonPatrick OdierOECD printing facilitiesPier Carlo PadoanMariano RajoyNajib RazakAlex SalmondSkandiaTax Justice NetworkEdward TroupMargrethe VestagerHeinz Zourek

more across site & bottom lb ros

More from across our site

Barbara Voskamp is bullish on hiring local talent to boost DLA Piper’s Singapore practice, and argues that ‘big four’ accountants suffer from a stifled creativity
Chris Jordan also said that nations have a duty to scrutinise the partnership structures of major firms, while, in other news, a number of tax teams expanded their benches
KPMG has exclusive access to the tool for three years in the UK, giving it an edge over ‘big four’ rivals
But the US tax agency’s advice is consistent with OECD guidance and shouldn’t surprise anyone, other experts tell ITR
A survey of more than 25,000 in-house counsel reveals that diversity initiatives are a high priority when choosing external counsel
The report is aimed at helping 'low-capacity countries', the OECD has claimed
The UK tax agency appears to be going after easier, lower value targets, one lawyer has claimed
Criminal experts have told ITR that the case of Ulf Johannemann emphasises the fine line between tax avoidance and tax evasion
The ATO workers were among nearly 57,000 people who were duped into claiming fake GST refunds, while Kuwait signed a double taxation treaty with the UAE
However, ICAP may not provide the legal certainty of an APA and tax authorities will have limited capacity, experts argue
Gift this article