Rate to be applied on rediscount transactions conducted as per the Tax Procedures Law set as 18.25 %.

As per the Communique released by Central Bank of the Republic of Turkey, the discount interest rate to be applied in the rediscount transactions to be conducted in return for the bills reaching maturity in maximum 3 months has been set as 17.25%, while the interest rate to be applied to advance transactions has been set as 18.25 % annually.               

As of 11 October 2019, the date on which the relevant Communique was published in the Official Gazette, the annual rate of 18.25 % should be taken into account (if interest rate is not indicated on the bill or cheque) in rediscount calculations within the scope of the articles 281 and 285 of the Tax Procedures Law.