Late payment interest rate for public receivables set at 3.7 percent

With a decree signed by AKP Chairman and President Recep Tayyip Erdoğan and published in the Official Gazette, the late payment interest rate under the Law on the Procedure for the Collection of Public Receivables has been set at 3.7 percent, to be applied separately for each month.

The decree included the following statements:

"It has been decided in accordance with the aforementioned article of Law No. 6183 that the late payment interest rate specified in the first paragraph of Article 51 of the Law on the Procedure for the Collection of Public Receivables No. 6183 shall be set at 3.7 percent, to be applied separately for each month."