The lower limit for Administrative Fines under the Law on the Protection of Competition number 4054 has increased by 3.83% for 2017, from TRY 17,700 to TRY 18,377. 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 2017 and 31 December 2017.
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 29914 on 10 December 2016 (“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 29885 on 11 November 2016 (more).
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.