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EU Mulls Including Turkey on Blacklist of Tax Havens

  • Ankara’s commitments on tax transparency deemed insufficient
  • Decision could be taken by bloc’s finance ministers on Dec. 5
Istanbul's skyline.
Photographer: Kerim Okten
Updated on

The European Union may include Turkey on a blacklist of tax havens as soon as next month, in a move that could further strain ties between Ankara and the world’s largest trading bloc.

An EU working group tasked with screening “non-cooperative jurisdictions for tax purposes” concluded that Turkey’s commitments to address transparency issues and abolish sweetheart tax regimes are so far “not sufficient,” according to people familiar with the matter and confidential documents seen by Bloomberg. The so-called Code of Conduct group could recommend to EU finance ministers to add non-compliant countries to a blacklist on Dec. 5.