The lower limit of administrative fines for the protection of competition has been increased

In the circular published in the Official Gazette, the lower limit of administrative fines for the protection of competition was increased. In the circular published by the Competition Authority in the Official Gazette, the lower limit of administrative fines regulated in the first paragraph of Article 16 of the Law on the Protection of Competition was determined as 105,688 TL, valid from 1/1/2023 to 31/12/2023, based on the 122.93 percent increase, which is the revaluation rate for 2022 determined in the Tax Procedure Law General Communiqué published in the Official Gazette.