TURKEY INCREASES THE STATUTORY ANNUAL LEGAL INTEREST RATE FROM 9% TO 24%:

Pursuant to the Presidential Decree published in the Official Gazette on 21 May 2024, the legal interest rate received a big hike from 9% to 24% effective from 1 June 2024.

GOVERNMENT RAISES TAX ON FOREIGN CURRENCY PURCHASES FROM 0.2% TO 1%:

Effective from the date of publication of the decree, the BITT rate will be increased from 0.2% to 1%

THE GOVERNMENT DOUBLED THE MINIMUM LIMITS OF MANDATORY COVER FOR SHORE FACILITIES MARINE POLLUTION LIABILITY INSURANCE: