Deferment Interest Rate is Increased

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Determent interest rate and late fee applied to public receivables is increased from 12% to 24% yearly (monthly 2%).

According to Revenue Administration’s General Communiqué (SERIAL: C, ITEM NO: 3) published in Official Gazette No. 30527, dated 6 September 2018, starting from publishing date the determent interest rate will be monthly 2%.

SSI DEBTS

The rate of late fee imposed to installments and postponed SSI receivables will be the same, i.e. monthly 2%, daily 0,000667 (2/100/30).

However, the late fee will be applied as 12% yearly for the installments and postponed receivables before 5 September 2018.