Briefing on Turkey and the Paradise Papers

09 November 2017

The Paradise Papers have caused controversy in Turkey, where the question of economic competence looks set to become a defining political issue

  • Members of the Turkish government, most notably the prime minister, have allegedly been implicated in high-level tax-avoidance schemes
  • Although there are no indications of illegality this, alongside an on-going investigation into Turkish government-linked businessmen in the US, has damaged the Justice and Development Party’s (AKP) reputation for honest and competent economic management
  • The revelations come as the AKP faces growing political competition, with the launch of a new right-wing party set to increase scrutiny of the government’s record after fifteen years in power

Turkish Prime Minister Binali Yildirim is facing questions over his family’s business dealings after the so-called ‘Paradise Papers’ allegedly revealed  at least two companies owned and operated by his sons under the low-tax regime in Malta. The files obtained by the International Consortium of Investigative Journalists (ICIJ), and analysed in co-operation with Cumhuriyet newspaper, appear to show that Erkam Yildirim and Bulent Yildirim as the sole shareholders of Hawke Bay Marine Co. Ltd. and Black Eagle Marine Co. Ltd., shipping companies listed as…

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Photo credit: Malta Tourist Board