EU TO GIVE TURKEY MORE TIME TO AVOID TAX BLACKLISTING

On 12 February, Reuters reported that EU diplomats have reportedly reached a preliminary agreement to give Turkey more time to meet tax transparency requirements.  The blacklist of jurisdictions was set up in 2017 targeting jurisdictions that could facilitate tax evasion because of lax or opaque tax regimes.  To avoid blacklisting, Turkey was required to adopt laws by the end of 2019 to automatically exchange tax information with EU states, but has failed to do so by the set deadline.

https://www.reuters.com/article/us-eu-turkey-tax/eu-to-give-turkey-more-time-to-avoid-tax-blacklisting-sources-idUSKBN2062R7

 

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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