The lower limit for Administrative Fines under the Law on the Protection of Competition number 4054 has increased by 14.47% for 2018, from 18,377 to 21,036 Turkish Liras. 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 2018 and 31 December 2018.
The increase is introduced by the Communiqué regarding Increase on Sub Limit of Administrative Fine Arising from Article 16 of Law on the Protection of Competition number 4054, published in Official Gazette number 30258 on 2 December 2017 (“Communiqué”). The Communiqué was issued in line with the Ministry of Finance’s 2017 tax revaluation rate, published in the General Communiqué for Tax Procedural Law, published in Official Gazette number 30237 on 11 November 2017.
Please see this link for the full text of the Communiqué (only available in Turkish).
Information first published in the MA | Gazette, a fortnightly legal update newsletter produced by Moroğlu Arseven.