Turkey is seeking to utilize artificial intelligence to combat tax evasion, joining countries like Italy and the United States in employing advanced technologies to curb tax fraud cases.
Mehmet Şimşek, the country’s Minister of Finance, stated that Turkey will increasingly use algorithms and artificial intelligence in auditing companies. Enhanced technologies could assist authorities in detecting unlawful activities, given that over half of Turkish companies report either clear losses or minimal profits.
According to Şimşek, compared to the other 37 member countries of the Organisation for Economic Co-operation and Development (OECD), Turkey significantly lags behind in tax collection as a percentage of economic production.
Read more:
Austrian regulatory authority fines Raiffeisen over $20,000
Additionally, the Minister promoted a new legislative proposal aimed at introducing additional taxes, which he argues are crucial for maintaining the country’s financial stability following last year’s devastating earthquakes.
