German finance minister confident EU will agree on corporate tax reform

Germany's finance minister is optimistic that European Union member states will reach an agreement on a planned minimum corporate income tax.

The plans for new rules on where and how much companies are taxed were backed last week by 130 countries at the Paris-based Organisation for Economic Cooperation and Development.

EU member states Ireland, Estonia and Hungary are among the countries that did not sign the deal.

"I am convinced that in the end we will come to a joint decision in the EU," Olaf Scholz told radio station DLF before heading to a meeting of G20 finance ministers and central bankers in Venice.