Bloomberg News

Turkey to Track Money Hidden in Foreign Accounts, Sabah Says

August 06, 2012

Turkey is working on agreements with governments around the world to allow it to better track and prevent tax evasion, Finance Minister Mehmet Simsek said, according to Sabah newspaper.

An accord with Switzerland goes into effect on Jan. 1, while Turkey is working on agreements with 10 other international tax havens it’s identified including the Bahamas, the Virgin Islands and Panama, the Istanbul-based newspaper quoted Simsek as saying.

Turkey has also signed information-sharing protocols with the governments of Malaysia, Singapore and Luxembourg, Simsek said, according to Sabah.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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