Turkey Tax-Haven Blacklist Decision Poses a Challenge to EU

Feb. 11, 2020, 6:04 PM

European Union finance ministers face a politically charged decision this month on whether to put Turkey, a contentious ally, on the bloc’s tax-haven blacklist.

Despite a Dec. 31, 2019 deadline to meet EU rules meant to ensure that EU citizens can’t hide money in foreign banks, Turkey has not reached agreements with all 27 EU member states, according to EU officials, who spoke Tuesday with Bloomberg Tax on the condition of anonymity.

“The decision is now political,” said an EU diplomat who participates in the EU Code of Conduct Group for Business Taxation, which manages the blacklist of ...

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