Turkey's Energy Market Regulatory Authority ("Authority") has increased administrative fines related to electricity, natural gas, oil and LPG by 14.47% from 1 January 2018, based on the Treasury's annual revaluation rate, determined for 2017.
The Treasury announced the 2017 revaluation rate under the General Communiqué on Tax Procedural Law number 484, published in Official Gazette number 30237 on 11 November 2017.
Accordingly, the Authority announced the energy sector increases via separate communiqués published in Official Gazette number 30227 on 21 December 2017. The respective communiqués for each market can be found at the following links (only available in Turkish):
- Liquified Petroleum Gas (LPG) Law number 5307 at this link.
- Petroleum Market Law number 5015 at this link.
- Natural Gas Law number 4646 at this link.
- Electricity Market Law number 6446 at this link.
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven
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