Pursuant to article 51 of the Law on Procedures of Collection of Public Receivables numbered 6183, default interest is applied monthly to the overdue portion of public receivables, starting from the maturity date.
The rate of the respective default interest, which was 2%, was re-determined as 2,5%, is effective from 1 July 2019.
Please see this link for the full text of the Presidential Decision number 1266, published in the Official Gazette numbered 30816 on 29 June 2019 (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.
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