The Default Interest Rate to Be Applied in Late Payments in the Supply of Goods and Services Has Been Updated.

Pursuant to the communiqué published in the Official Gazette dated 02.01.2024 and numbered 32417, the interest rate to be applied in cases where the default interest rate for late payments made to the creditor in the supply of goods and services is not stipulated in the contract or the relevant provisions are invalid, has been determined as 48% per annum. The communiqué also follows that the minimum amount of compensation that can be claimed for the costs of collection of receivables has been determined as TRY 1,310.

Personal Data Protection Board Exempted Village Public Legal Entities from the Obligation to Register with the Data Controllers Registry.

Village public legal entities’ obligation to register with the Data Controllers Registry has been exempted with the decision of the Personal Data Protection Board dated 14.12.2023 and numbered 2023/2135 announced in the Official Gazette dated 12.01.2024 and numbered 32427.

Monetary Limits Regarding the Announcements of the Sales to be Made Pursuant to the Execution and Bankruptcy Law have been Updated.

Pursuant to the communiqué published in the Official Gazette dated 23.01.2024 and numbered 32438, the monetary limits regarding the estimated price to be taken as basis for the announcements made through the Press Advertisement Agency in newspapers and internet news sites have been updated. The monetary limit for the announcements to be decided by the execution office whether to make an announcement with a newspaper or an internet news site is up to 720.000 TL; the monetary limit for the announcements to be made in a local newspaper or an internet news site that has the right to publish official announcements published in the place where the sale will be held is above 720.000,00 TL and below 2.885.000,00 TL; and the monetary limit for the advertisements to be published in an internet news site or in a newspaper with the right to publish official announcements, which is distributed and sold nationwide and whose daily actual sales are over fifty thousand copies on the date of the advertisement request, has been determined for those with an estimated price of 2.885.000,00 TL and above.