Both the delay interest rate — calculated in the event of tax default, late payment and voluntary disclosures — and the legal interest rate have been updated with two consecutive Presidential Decrees published in the Official Gazette on 21 May 2024.Delay interest had been applied at a rate of 3.5% per month since 14 November 2023.On 21 May 2024, under Presidential Decision No. 8484, the Turkish President increased the delay interest rate to 4.5% per month. This new rate entered into force and was effective as of 21 May 2024.Under Presidential Decision No. 8485, the legal interest rate, which had...