Turkey:
With The Presidential Decree Numbered 5801, The Monthly Default Interest Rate Regulated Under Article 51/1 Of The Law On The Collection Procedure Of Public Receivables Has Been Increased To 2.5%
30 August 2022
Moroglu Arseven
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As per the Presidential Decree numbered 5801 published in the
Official Gazette dated 21 July 2022 and numbered 31899, the monthly
default interest rate regulated under Article 51/1 of the Law on
the Collection Procedure of Public Receivables for the portion of
the public receivable that is not paid within the payment period,
which will be applied separately for each month from the due date,
has been increased from 1.6% to 2.5% per month.
Please see this link for the full text of the Presidential Decree (only
available in Turkish).
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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