Turkey is facing increasing pressure over its tax status after the EU granted an extension to demands that Ankara meet its tax transparency guidelines.If Ankara fails to harmonize its tax policy in line with EU requirements, it could be placed on a tax haven blacklist if member states reach a consensus.
Brussels has criticized Turkey for failing to meet international standards on the automatic exchange of tax information, including tax transparency and prevention of tax evasion.
Turkey, which was already granted until the end of December 2020 to fix the issue, is on the EU’s gray list of offenders that includes other countries required to reform their tax policies.
However, some EU countries, including Austria, France and Greece, refused to give more time to Turkey. But Germany granted the extension, citing reasons of “political expediency.” The EU tax haven blacklist, which was drafted in 2017, will be updated in October this year.
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