What is the rate of remorse interest for tax returns to be submitted with remorse?
According to the provisions of the Tax Procedure Law (VUK), no tax penalty will be applied to declarations submitted with remorse, but only remorse interest will be charged. The remorse interest is applied at the same rate as the late payment interest.
With Presidential Decree No. 8484, the rate of late payment interest and remorse interest to be applied as of 21/05/2024 is 10%.
Source: Istanbul Chamber of Certified Public Accountants
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