Turkey Increases Interest Rates for Late Tax Payment and Deferred Tax Payment

Turkey's Revenue Administration has announced the publication of Presidential Decision No. 8484, which increased the late tax payment interest rate from 3.5% per month to 4.5% per month with effect from 21 May 2024. The rate was previously increased from 2.5% per month to 3.5% per month with effect from 14 November 2023.

Turkey's Revenue Administration has also announced the publication of General Communiqué Series C No. 8 on 21 May 2024, which increases the annual deferred interest rate f…