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The Presidential Decree No. 1266, published in the Official Gazette dated June 29, 2019 and No. 30816, redetermined the delay interest rate within the scope of Article 51 of the Law No. 6183 on the Collection Procedure of Public Receivables.
The Presidential Decree No. 1266
("Decree"), published in the Official
Gazette dated June 29, 2019 and No. 30816, redetermined the delay
interest rate within the scope of Article 51 of the Law No. 6183 on
the Collection Procedure of Public Receivables.
What Does the Decree Say?
According to the related article, a monthly delay interest
applies on the unpaid portion of a public receivable starting from
the end of the due date. The President is authorized to increase
and decrease this rate within certain limitations.
Based on this authority, the President increased the monthly
delay interest rate from 2% to 2.5%, effective as of 1 July
2019.
After this redetermination, the monthly delay interest rate
which applies to tax receivables under Article 112 of the Tax
Procedural Code will also be applied as 2.5%.
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.
