The lower limit for Administrative Fines under the Law on the Protection of Competition number 4054 has increased by 5.58% for 2016, from TRY 15,226 to TRY 17,700. The revised lower limit will apply for administrative fines issued in relation to protection of competition in the goods and services sector, issued between 1 January 2016 and 31 December 2016.
The increase is introduced by the Communiqué regarding Increase on Sub Limit of Administrative Fine Arising from Article 16 of Law no 4054, Law on the Protection of Competition, published in Official Gazette number 29573 on 25 December 2015 (“Communiqué”). The Communiqué was issued in line with the Ministry of Finance’s 2016 tax revaluation rate, published in the General Communiqué for Tax Procedural Law, published in Official Gazette number 29528 on 10 November 2015 (more information).
Please see this link for the full text of the Communiqué (only available in Turkish).
Authored by Bora İkiler.