Increase in Monetary Limits!

Today, the monetary limits stipulated in various laws have been increased based on the revaluation rate of 58.46% for 2023 as per the communiqués published in the Official Gazette dated December 20, 2023 and numbered 32405. In light of these developments:

• Communiqué on the Increase of the Monetary Limits in Article 68 of the Law No. 6502 on the Protection of Consumers and Article 6 of the Regulation on Consumer Arbitration Committees:
  • The monetary limit foreseen for disputes in applications to be made to Provincial or District Consumer Arbitration Committees was determined as 104,000 Turkish Liras for the year 2024.
• Communiqué on Administrative Fines to be Imposed in 2024 Pursuant to Article 77 of the Law No. 6502 on the Protection of Consumers:
  • Pursuant to the Law, the amounts of administrative fines to be imposed between January 1, 2024 and December 31, 2024 have been increased, and the new amounts are included in the relevant Communiqué.
• Communiqué (No: 2024/1) on the Increase of the Lower Limit of the Administrative Fine foreseen in the First Paragraph of Article 16 of the Law No. 4054 on the Protection of Competition to be Effective until 31/12/2024:
  • The lower limit for administrative fines under Article 16 of the Law has been increased to 167,473 Turkish Liras, effective from January 1, 2024 until December 31, 2024.