Article 51 of the Law on the Collection of Public Receivables no.6183 contains a provision indicating that the unpaid portion of the public receivable is subject to a 4% late fee for each month starting from the end of the maturity. Pursuant to this article, the President is mandated to reduce the rate by up to 10% or increase up to 2 folds.
This mandate has been exercised by the President through the Decision no.62 published in the Official Gazette dated 5 September 2018 and is set as 2 % per month starting from the date of publication to be calculated separately for each month.
Period applied
Monthly rate
21.04.2006 - 18.11.2009
2,50%
19.11.2009 - 18.10.2010
1,95%
19.10.2010 - 04.09.2018
1,40%
As of 05.09.2018
2,00%
Our explanations provided above include general information on the issue. No responsibility can be claimed against EY and/or Kuzey YMM ve Bağımsız Denetim A.Ş. due to the implications arising from the context of this document or emerging with respect to its context.
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