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Daily Tax Report: International

Turkey Faces Tax Blacklist If No Changes to Policy, Austria Says

Feb. 18, 2020, 9:35 AM

Turkey has until the end of the year to comply with European Union demands on tax transparency, or else risk being added to a list of countries that could face financial sanctions, according to Austrian Finance Minister Gernot Bluemel.

The EU’s 27 finance ministers meeting in Brussels determined that Turkey currently doesn’t comply with the bloc’s requirements, and gave Ankara until the end of the year to fall in line, Bluemel said before the gathering on Tuesday. The rules include bilateral agreements to automatically exchange bank information with EU members, which include Cyprus.

“If Turkey continues to violate...

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