By Collection General Communiqué (Series: C, No: 7), published in Official Gazette No. 32369 of 14 November 2023, the Ministry of Treasury and Finance raised the deferral interest rate from 24% to 36% per annum.
By Collection General Communiqué (Series: C, No: 7), published in Official Gazette No. 32369 of 14 November 2023, the Ministry of Treasury and Finance, relying on the power granted to it by Article 48 of Law No. 6183, raised the deferral interest rate from 24% to 36% per annum.
The Communiqué entered into force on its date of publication, 14 November 2023.
Accordingly:
- Deferral interest of 36% per annum will apply to public receivables deferred on the basis of applications made from the date of publication of this Communiqué.
- For public receivables to be deferred on the basis of applications made before the date of publication of this Communiqué, and for public receivables deferred before that date and being paid in accordance with the deferral conditions, the previous deferral interest rate (24%) applies from the application date for as long as they are paid in accordance with those conditions.
- Likewise, where a deferral request was made before the date of publication of this Communiqué and was accepted, and the deferral is subsequently breached but a new deferral is granted on a further request (or the deferral is treated as valid), the previous deferral interest rate (24%) applies up to the date of publication of this Communiqué, and a rate of 36% applies to the instalments payable after that date.
- The deferral interest rate calculated for receivables deferred under Article 48/A of Law No. 6183 by reference to a given percentage of the deferral interest determined under Article 48 of that Law will also be determined by taking into account the rate and the application principles set out in this Communiqué.
How deferral interest is to be calculated is explained in detail in Collection General Communiqué Series: A, No: 1.