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%.
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.