Recent Alterations in Legal Interest and Delay Hike Rates


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Presidential decrees regarding the alterations to the legal interest and delay hike on the Public Receivables, rates were published in the Official Gazette dated May 21, 2024.
  • he decree regarding the application of the annual legal interest rate, regulated under Article 1 of Law No. 3095 on Legal Interest and Default Interest, has been published to be effective as of 01.06.2024, set at an annual rate of 24%. With this decree, the annual legal interest rate, previously determined as 9%, has been increased to 24%.
  • Pursuant to Article 51 of Law No. 6183 on the Procedure for Collection of Public Receivables, it has been decided to set the delay hike interest at 4.5% to be applied separately for each month. With this decision, the monthly delay hike rate, previously set at 4%, has been updated to 4.5%.

Selin Su, Managing Associate
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