The discount interest rate - Tek Auditing and Sworn-in CPA Ltd.

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The discount interest rate

The rate to be applied on rediscount transactions conducted as per the Tax Procedures Law set as 19.50 %.

The discount interest rate to be applied in the rediscount transactions to be conducted in return for the bills reaching maturity in maximum 3 months has been set as 18.50%, while the interest rate to be applied to advance transactions has been determined as 19.50 % annually.

As of 29 June 2018, the annual rate of 19.50 % should be taken into account (if interest rate is not indicated on the bill or cheque) in rediscount calculations within the scope of the Articles 281 and 285 of the Tax Procedures Law.

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