According to the the General Communiqué on Collection (Series: C, No: 7) (“Communiqué”) and Presidential Decree Act No. 7782 (“Decree”) published in the Official Gazette dated 14.11.2023 numbered 32369, the rate of default interest, overdue interest, remorse interest and deferment interest applied for public receivables were redetermined.
Important issues regarding the relevant Communiqué and Decree are as follows:
- The Deferment Interest Rate:
- With the said Communiqué the annual deferment interest rate applied to public receivables has been increased from 24% to 36% as of the publication date of this Communiqué.
- For the public receivables to be postponed based on the applications made before the publication date of this Communiqué (14.11.2023) and for the public receivables that have been postponed before the publication date of this Communiqué, and are being paid in accordance with the postponement conditions, the old postponement interest rate (24%) will be applied as of the application date as long as they are paid in accordance with the postponement conditions.
- In the event of the postponement for the public receivables for which a postponement request has been made before the publication date of this Communiqué (14.11.2023), and the request has been accepted, and postponement has been violated, but the postponement is made again upon new requests (postponement is deemed valid), the old postponement interest rate (24%) will be applied until the date of publication of this Communiqué, and 36% postponement interest rate will be applied to the instalment amounts to be paid after this date.
- On the other hand, the deferment interest rate calculated for deferred receivables based on a certain percentage of the deferment interest determined in accordance with Article 48 of Law on Collection Procedure of Public Receivables Act No. 6183 (“Law Act No. 6183”) will be determined by considering the rate and application principles determined by this Communiqué.
- The deferment interest rate will be calculated in accordance with the principles set out in Serial: A Sequence No: 1 General Communiqué on Collection.
- The Default Interest, Overdue Interest, Remorse Interest Rate:
- In accordance with the relevant Decree, the default interest rate, which is regulated under Article 51/1 of Law Act No. 6183 regarding the unpaid portion of the public receivable within the payment period and will be applied separately for each month after the maturity date, has been increased from 2.5% to 3.5% per month.
- In addition, since the overdue interest and remorse interest rate is applied by referring to the delay interest rate in accordance with the Articles 112/3 and 371/5 of the Tax Procedure Law; it can be said that the overdue interest and remorse interest rate will be applied as 3.5% per month, effective from 14.11.2023.
Details of the Communiqué can be found through this link (only available in Turkish).
Details of the Decree can be found through this link (only available in Turkish).
