Turkey’s Revenue Administration has issued Presidential Decision No. 8484 – which came into force yesterday, 21 May, 2024 – raises the interest rate for late tax payments from 3.5% to 4.5% per month.
This development follows a prior increase from 2.5% to 3.5% per month, which came into force on 14 November, 2023.
Additionally, General Communiqué Series C No. 8 raised the annual deferred tax interest rate from 36% to 48%.
This rate, which applies to taxes deferred by taxpayer request, was previously increased from 24% to 36% on 14 November, 2023.
