Fleeing abroad may no longer save tax evaders, says new code
ISTANBUL- Hürriyet Daily News
A new draft code, if passed, would allow for the pursuit of tax evaders who escape to foreign countries. The law would be applicable to income, corporate and value-added taxes. Hürriyet photoThe Turkish government has submitted a draft code to Parliament that would allow the pursuit of tax evaders in foreign countries.
If enacted, the code will put into practice an international agreement on preventing tax evasion carved out by the Organization for Economic Development and Cooperation (OECD) and the European Commission. However, the government has made a reservation restricting Turkey’s responsibility only to income, corporate and value added tax, daily Hürriyet reported.
The contracting governments will help each other and maintain comprehensive cooperation to combat tax evasion at a time when free movement of capital may lead to such consequences. The agreement allows signatory countries to demand information regarding taxes.