Twitter Inc (TWTR) Accused Of Tax Evasion By Turkey PM Erdogan

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Twitter Inc (TWTR) Accused Of Tax Evasion By Turkey PM Erdogan
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Twitter Inc (NYSE:TWTR) and Turkish prime minister Tayyip Erdogan are once again in the headlines. This time, Twitter has been accused by Erdogan of tax evasion along with suspecting other social networks giants like Facebook Inc (NASDAQ:FB) and YouTube of similar actions, says a report from Yahoo.

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“Twitter, YouTube and Facebook are international companies established for profit and making money,” Erdogan said, and added, “Twitter is at the same time a tax evader. We will go after it.”

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No official case against Twitter

There is no legal case against Twitter for now as judges in Turkey have the history to deviate from what Erdogan has to say. The prime minister believes that the constitutional court is conducting “interference in politics” by talking in favor of freedom of expression.

Just few days back, the court lifted the ban on Twitter Inc (NYSE:TWTR) in the country, which didn’t go over well with Erdogan, who said that the Turkish activists are not respecting democratic principles.  Erdogan, who was involved in the corruption scandal, according to the buzz on social media, is in no mood to accept the court rulings of lifting the ban on Twitter.

YouTube, which is still blocked in the country, was banned after a tape of topmost Turkish officials discussing the potential plans for military intervention in Syria surfaced on the site. Turkey has been criticized on the international stage for restricting social networking sites.

Feud between Twitter and Erdogan

Earlier, criticizing the court’s verdict of unblocking Twitter Inc (NYSE:TWTR), Erdogan stated in a press conference, “We complied with the verdict because it is a Constitutional Court ruling. So we have given instructions to our friends and acted accordingly. But I don’t respect it.” He, also, said that Turkey’s national and moral values have been breached, which is disrespect to the country’s prime minister and ministers all around.

Prime minister views the leaks as “villainous” plans to dishonor his party and elections. Erdogan holds his battle against Twitter and believes that “unmitigated lies” are posted and disseminated through the popular micro blogging site. Last month, the prime minister said that Twitter Inc (NYSE:TWTR) blogs are doing lot of damage to his party and questioned the authenticity of the recordings.

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Aman is MBA (Finance) with an experience on both Marketing and Finance side. He has worked as a Risk Analyst for AIR Worldwide, and is currently leading VeRa FinServ, a Financial Research firm. Favorite pastimes include watching science fiction movies, reviewing tech gadgets, playing PC games and cricket. - Email him at amanjain@valuewalk.com
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